DETROIT — General Motors is switching to a virtual format for its 2019 shareholders meeting.
The automaker will host the June 4 event via a live video webcast. Shareholders will not be allowed to attend the meeting in person. A call-in number also is available for those without access to a computer.
The GM board of directors, according to the company's annual proxy filing, decided on the virtual meeting to cut costs and "enhance attendance" by providing more convenient access to shareholders.
Over the past five years, GM says attendance at the annual meeting has averaged less then 35 shareholders.
GM's decision comes two years after Ford Motor Co. moved its annual meeting to a digital format in 2017. Despite some grumbling about the online meeting, Ford said the format allowed nearly six times the amount of people to participate, including 147 shareholders — up from 59 in 2016.
Such virtual meetings have been criticized for allowing executives to avoid confrontations and complaints from investors in person. They also provide companies better protection from protesters and unexpected outbreaks during the meetings.
To attend the virtual meeting, individuals must have been a shareholder of record as of April 8. They may log into the 8 a.m. meeting 15 minutes beforehand with their control number at gm.onlineshareholdermeeting.com.
