Sierra board gets proxy advisor backing

In Canada, independent proxy advisor RiskMetrics Group recommends that Sierra Geothermal Power Corp. shareholders support the incumbent Board of Directors in a proxy contest. In a January 14 report, RiskMetrics said the incumbent board and management’s actions appear reasonable and “the intricate business relationships among the dissident nominees appear to be worrisome.” Gary Thompson, Sierra’s President and Chief Executive Officer, said “it is crucial for all shareholders to actively deliver their green proxies to prevent directors with conflicting loyalties from controlling Sierra’s board.” Follow the link to the press release, which includes supporting statements from RiskMetrics.