Reuters
Proxy adviser Glass Lewis on Thursday recommended shareholders of SilverBow Resources vote for the company's board nominees, and withhold support for directors backed by activist investment firm Kimmeridge Energy Management. Kimmeridge, the largest shareholder in SilverBow, is aiming to seat three new independent directors at the oil and gas producer's annual shareholder meeting on May 21, saying the company needs to revamp its governance and improve performance. However, Glass Lewis said it recommended backing the three director nominees submitted by SilverBow, and shareholders should withhold votes for the Kimmeridge-supported nominees, according to a copy of its report seen by Reuters.