Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 434

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 434
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 engagements are undertaken in conjunction with the active investment stewardship team, and often active
equity investors. In addition to the topics listed below, engagement with fixed income investment teams can help inform an issuer’s approach to structuring specialist issuances, such as green bonds, and the standard terms and information in
bond documentation.

B-7

Boards of Directors

Roles and responsibilities

There is widespread consensus that the
foundation of good corporate governance is an effective board of directors that is able to advise and supervise management in an independent and objective manner.

We look to the board of directors (hereafter ‘the board’) to have an oversight role in the establishment and realization of a company’s strategy,
purpose and culture. These constructs are interdependent and, when aligned, can better position a company to be resilient in the face of a changing business environment, help reduce the risks of corporate or employee misconduct, and attract and
retain the caliber of workers necessary to deliver financial performance over time.

In promoting the success of the company, the board ensures the necessary
resources, policies and procedures are in place to help management meet its strategic objectives within an agreed risk tolerance.

One of the most important
responsibilities of the board is to appoint, and remove as necessary, the chief executive officer (CEO). In addition, the board plays a meaningful role in monitoring the performance of the CEO and other key executives, determining executive
compensation, ensuring a rigorous audit, overseeing strategy execution and risk management and engaging with shareholders, and other stakeholders, as necessary.

Composition and effectiveness

Appointment process

A formal and transparent process for identifying and appointing director candidates is critical to ensuring the board is composed of directors with the appropriate
mix of skills and experience. The board or a sub-committee should determine the general criteria given the company’s circumstances (e.g., sector, maturity, geographic footprint) and any additional
criteria for a specific role being filled (e.g., financial expertise, industry track record). To inform the process, we encourage companies to review the skills and experience of incumbent directors to identify any gaps and whether a director
candidate’s characteristics would be additive. We welcome disclosures that explain how the board considered different skills, backgrounds and experience to ensure the directors collectively can be effective in fulfilling their
responsibilities. We assess a company’s board composition against that of its peer group and local market requirements.

Shareholders periodically vote to
elect, remove and nominate directors to serve on the board. We may vote against the election of the most senior independent director,