The Pittsburgh Post-Gazette reports Consol Energy shut reporters out of its annual shareholders meeting Wednesday.
According to the Post-Gazette, this is the second year in a row the company has kept its doors closed to the media:
The practice is not illegal, but “it’s not appropriate,” said Lev Janashvili, managing director at GMI Ratings, a corporate governance research firm in New York. “What does that decision reveal and suggest about the quality of leadership at the company?”
Shareholder meetings in Pittsburgh and across the country have taken on a charged tenor since the recession compelled many investors to raise questions about executive pay and corporate governance.
Consol recently joined a Pittsburgh-based coalition of environmental and energy organizations promoting higher performance standards for shale drilling, which are aimed at protecting air and water quality.
The new standards are voluntary and do not include measures to promote corporate transparency.