San Francisco-based investment advisory firm SailingStone Capital Partners has informed TSX- and NYSE-listed Turquoise Hill that it intends to vote against the independent directors of the company at the yearly meeting on May 14, citing concerns about corporate governance practices.
MD MacKenzie Davis said in a letter that the firm had long been troubled by the corporate governance practices at Turquoise Hill and that the organisation had tried to work with the Turquoise Hill board to address these issues.