Home › Asset managers › DWS › 2025-2026 › Against the board
At least 6,056 proposals in the 2025-2026 proxy season: DWS voted against, or withheld its votes from, at least 6,000 proposals put forward by company boards, and voted for 56 shareholder proposals, by its own Form N-PX filings.
Two kinds of vote are listed: a board-sponsored proposal DWS voted AGAINST or withheld on, and a shareholder proposal it voted FOR, with the board’s recommendation on it where the filings show one. A FOR vote on a proposal the board supported, or took no position on, is listed and labelled, but it is not a vote against the board. One row is one proposal at one meeting; “funds” is how many of the manager’s funds or accounts voted that way.
Everything Only shareholder proposals it backed
6,056 proposals. The board-sponsored half of this list keeps the 6,000 proposals with the most funds behind them; the rest are in the interactive database. Every shareholder proposal it backed is listed in full.
| Company | Meeting | Proposal | Category | On the ballot from | Board recommended | DWS voted | Funds |
|---|---|---|---|---|---|---|---|
| Compagnie Financiere Richemont SA | September 10, 2025 | Reelect Johann Rupert as Director and Board Chair | Director Elections | Board | AGAINST | 5 | |
| Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | April 28, 2026 | Approve Restricted Stock Plan (Bonus Estrela) | Compensation | Board | AGAINST | 5 | |
| Companhia de Saneamento Basico do Estado de Sao Paulo SABESP | April 28, 2026 | Elect Eduardo Parente Menezes as Director | Director Elections | Board | AGAINST | 5 | |
| Contemporary Amperex Technology Co., Ltd. | December 25, 2025 | Approve Additional Cap for Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Contemporary Amperex Technology Co., Ltd. | December 25, 2025 | Approve Grant of a General Mandate to the Board to Issue Shares | Capital Structure | Board | AGAINST | 5 | |
| DB Insurance Co., Ltd. | March 20, 2026 | Elect Jeong Chae-woong as Outside Director | Director Elections | Board | AGAINST | 5 | |
| DB Insurance Co., Ltd. | March 20, 2026 | Elect Jeong Chae-woong as a Member of Audit Committee | Director Elections | Board | AGAINST | 5 | |
| DB Insurance Co., Ltd. | March 20, 2026 | Elect Kim So-hui as Outside Director to Serve as an Audit Committee Member | Director Elections | Board | AGAINST | 5 | |
| DB Insurance Co., Ltd. | March 20, 2026 | Elect Nam Seung-hyeong as Inside Director | Director Elections | Board | AGAINST | 5 | |
| Demant A/S | March 5, 2026 | Approve Guidelines for Incentive-Based Compensation for Executive Management and Board | Compensation | Board | AGAINST | 5 | |
| Demant A/S | March 5, 2026 | Approve Remuneration Report (Advisory Vote) | Compensation | Board | AGAINST | 5 | |
| EMS-Chemie Holding AG | August 9, 2025 | Approve Remuneration of Executive Committee in the Amount of CHF 3.1 Million | Compensation | Board | AGAINST | 5 | |
| EMS-Chemie Holding AG | August 9, 2025 | Reelect Bernhard Merki as Director, Board Chair, and Member of the Compensation Committee | Director Elections | Board | AGAINST | 5 | |
| EMS-Chemie Holding AG | August 9, 2025 | Reelect Rainer Roten as Director and Member of the Compensation Committee | Director Elections | Board | AGAINST | 5 | |
| ENEOS Holdings, Inc. | June 25, 2026 | Elect Director and Audit Committee Member Toyoda, Akiko | Director Elections | Board | AGAINST | 5 | |
| EPAM Systems, Inc. | May 21, 2026 | To approve an amendment to the EPAM Systems, Inc. 2021 Employee Stock Purchase Plan to add 650,000 additional shares. | Compensation | Board | AGAINST | 5 | |
| EPAM Systems, Inc. | May 21, 2026 | To approve an amendment to the EPAM Systems, Inc. 2025 Long Term Incentive Plan to add 4,000,000 additional shares. | Compensation | Board | AGAINST | 5 | |
| Epiroc AB | May 5, 2026 | Reelect Fredric Stahl as Director | Director Elections | Board | AGAINST | 5 | |
| Epiroc AB | May 5, 2026 | Reelect Johan Forssell as Director | Director Elections | Board | AGAINST | 5 | |
| Epiroc AB | May 5, 2026 | Reelect Ronnie Leten as Board Chair | Director Elections | Board | AGAINST | 5 | |
| Epiroc AB | May 5, 2026 | Reelect Ronnie Leten as Director | Director Elections | Board | AGAINST | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Advisory Vote on Executive Compensation Approach | Compensation | Board | AGAINST | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Elect Director Arun Nayar | Director Elections | Board | WITHHOLD | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Elect Director Dino Chiesa | Director Elections | Board | WITHHOLD | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Elect Director Jessica McDonald | Director Elections | Board | WITHHOLD | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Elect Director Paolo Notarnicola | Director Elections | Board | WITHHOLD | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Elect Director Sandra Levy | Director Elections | Board | WITHHOLD | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Re-approve Deferred Share Unit Plan | Compensation | Board | AGAINST | 5 | |
| GFL Environmental Inc. | May 13, 2026 | Re-approve Omnibus Long-Term Incentive Plan | Compensation | Board | AGAINST | 5 | |
| Godrej Properties Limited | August 1, 2025 | Approve Reappointment and Remuneration of Gaurav Pandey as Managing Director and Chief Executive Officer and Key Managerial Personnel | Compensation | Board | AGAINST | 5 | |
| HKT Trust and HKT Limited | May 21, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| HKT Trust and HKT Limited | May 21, 2026 | Approve PricewaterhouseCoopers as Auditor of the HKT Trust, the Company and the Trustee-Manager and Authorize Board and Trustee-Manager to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| HKT Trust and HKT Limited | May 21, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 5 | |
| HKT Trust and HKT Limited | May 21, 2026 | Elect Aman Mehta as Director | Director Elections | Board | AGAINST | 5 | |
| HKT Trust and HKT Limited | May 21, 2026 | Elect Chang Hsin Kang as Director | Director Elections | Board | AGAINST | 5 | |
| Henry Schein, Inc. | May 21, 2026 | Election of Incumbent Directors: Max Lin | Director Elections | Board | AGAINST | 5 | |
| Hexagon AB | April 24, 2026 | Approve Performance Share Program 2026/2029 for Key Employees | Compensation | Board | AGAINST | 5 | |
| Hexagon AB | April 24, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Hexagon AB | April 24, 2026 | Reelect Marta Schorling Andreen as Director | Director Elections | Board | AGAINST | 5 | |
| Hexagon AB | April 24, 2026 | Reelect Sofia Schorling Hogberg as Director | Director Elections | Board | AGAINST | 5 | |
| Huntington Ingalls Industries, Inc. | April 29, 2026 | Stockholder proposal requesting an annual report on the Company's political spending. | Other Social Issues | Shareholder | Against | FOR | 5 |
| Industrial Bank of Korea | March 26, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| Industrial Bank of Korea | March 26, 2026 | Authorize Board to Fix Remuneration of Internal Auditor(s) | Compensation | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Christian Caspar as Director | Director Elections | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Fredrik Lundberg as Board Chair | Director Elections | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Fredrik Lundberg as Director | Director Elections | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Katarina Martinson as Director | Director Elections | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Lars Pettersson as Director | Director Elections | Board | AGAINST | 5 | |
| Industrivarden AB | April 13, 2026 | Reelect Par Boman as Director | Director Elections | Board | AGAINST | 5 | |
| InterContinental Hotels Group Plc | May 7, 2026 | Re-elect Angie Risley as Director | Director Elections | Board | AGAINST | 5 | |
| Investment AB Latour | May 11, 2026 | Reelect Helene Barnekow, Mariana Burenstam Linder, Anders Boos, Carl Douglas, Eric Douglas, Johan Hjertonsson, Johan Nordstrom (Chair) and Lena Olving as Directors | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Fred Wallenberg as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Grace Reksten Skaugen as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Hans Straberg as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Jacob Wallenberg as Board Chair | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Jacob Wallenberg as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Magdalena Gerger as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Marcus Wallenberg as Director | Director Elections | Board | AGAINST | 5 | |
| Investor AB | May 7, 2026 | Reelect Mats Rahmstrom as Director | Director Elections | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Approve Grant of Return on Capital Employed Restricted Stock Units to Aaron Erter | Compensation | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Approve Increase in Non-Executive Director Fee Pool | Compensation | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Approve the Remuneration Report | Compensation | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Elect Anne Lloyd as Director | Director Elections | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Elect Gary Hendrickson as Director | Director Elections | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Elect Howard Heckes as Director | Director Elections | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Elect Peter John Davis as Director | Director Elections | Board | AGAINST | 5 | |
| James Hardie Industries Plc | October 29, 2025 | Elect Rada Rodriguez as Director | Director Elections | Board | AGAINST | 5 | |
| KDDI Corp. | June 17, 2026 | Elect Director Takahashi, Makoto | Director Elections | Board | AGAINST | 5 | |
| Kao Corp. | March 26, 2026 | Approve Trust-Type Equity Compensation Plan | Compensation | Board | AGAINST | 5 | |
| Keppel Ltd. | April 17, 2026 | Elect Olivier Blum as Director | Director Elections | Board | AGAINST | 5 | |
| Kobe Bussan Co., Ltd. | January 29, 2026 | Elect Director and Audit Committee Member Ieki, Takeshi | Director Elections | Board | AGAINST | 5 | |
| KunLun Energy Company Limited | May 28, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| KunLun Energy Company Limited | May 28, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 5 | |
| LE Lundbergforetagen AB | April 20, 2026 | Reelect Carl Bennet, Sofia Frandberg, Louise Lindh, Fredrik Lundberg, Katarina Martinson, Krister Mattsson, Sten Peterson, Lars Pettersson and Bo Selling (Chair) as Directors | Director Elections | Board | AGAINST | 5 | |
| Lenovo Group Limited | July 17, 2025 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| Lenovo Group Limited | July 17, 2025 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 5 | |
| Lifco AB | April 24, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Lifco AB | April 24, 2026 | Reelect Carl Bennet as Board Chair | Director Elections | Board | AGAINST | 5 | |
| Lifco AB | April 24, 2026 | Reelect Carl Bennet as Director | Director Elections | Board | AGAINST | 5 | |
| Lifco AB | April 24, 2026 | Reelect Dan Frohm as Director | Director Elections | Board | AGAINST | 5 | |
| Lifco AB | April 24, 2026 | Reelect Erik Gabrielson as Director | Director Elections | Board | AGAINST | 5 | |
| MS&AD Insurance Group Holdings, Inc. | June 22, 2026 | Elect Director Funabiki, Shinichiro | Director Elections | Board | AGAINST | 5 | |
| MS&AD Insurance Group Holdings, Inc. | June 22, 2026 | Elect Director Hara, Noriyuki | Director Elections | Board | AGAINST | 5 | |
| MS&AD Insurance Group Holdings, Inc. | June 22, 2026 | Elect Director Kanasugi, Yasuzo | Director Elections | Board | AGAINST | 5 | |
| MS&AD Insurance Group Holdings, Inc. | June 22, 2026 | Elect Director Niiro, Keisuke | Director Elections | Board | AGAINST | 5 | |
| Medibank Private Limited | November 19, 2025 | Elect Jacqueline Hey as Director | Director Elections | Board | AGAINST | 5 | |
| Midea Group Co., Ltd. | September 24, 2025 | Approve General Mandate to Issue Onshore and Offshore Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| Midea Group Co., Ltd. | September 24, 2025 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Mizuho Financial Group, Inc. | June 26, 2026 | Elect Director Kihara, Masahiro | Director Elections | Board | AGAINST | 5 | |
| Mizuho Financial Group, Inc. | June 26, 2026 | Elect Director Take, Hidekatsu | Director Elections | Board | AGAINST | 5 | |
| Mizuho Financial Group, Inc. | June 26, 2026 | Elect Director Uchida, Takakazu | Director Elections | Board | AGAINST | 5 | |
| Moderna, Inc. | May 6, 2026 | To approve, on a non-binding, advisory basis, the compensation of our named executive officers. | Say-on-Pay | Board | AGAINST | 5 | |
| Moelis & Company | June 25, 2026 | To approve, on an advisory basis, the compensation of our Named Executive Officers. | Say-on-Pay | Board | AGAINST | 5 | |
| NAURA Technology Group Co., Ltd. | December 8, 2025 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| NAURA Technology Group Co., Ltd. | December 8, 2025 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| NEXON Co., Ltd. | March 25, 2026 | Approve Deep Discount Stock Option Plan | Compensation | Board | AGAINST | 5 | |
| NEXON Co., Ltd. | March 25, 2026 | Elect Director and Audit Committee Member Hanmin Cho | Director Elections | Board | AGAINST | 5 | |
| NEXON Co., Ltd. | March 25, 2026 | Elect Director and Audit Committee Member Kuniya, Shiro | Director Elections | Board | AGAINST | 5 | |
| NIBE Industrier AB | May 19, 2026 | Reelect Hans Linnarson (Chair), James Ahrgren, Camilla Ekdahl, Gerteric Lindquist, Anders Palsson, and Eva Thunholm as Directors; Elect Henrik Elmin as New Director | Director Elections | Board | AGAINST | 5 |
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Built November 7, 2026 from SEC Form N-PX filings.