Proxy adviser ISS outlines view of CEO removals from boards

NEW YORK, Sept 12 (Reuters) - Institutional Shareholder Services, the influential proxy adviser, said it closely weighs the consequences of a top company leader's being voted off the board by shareholders, and explained its view of activist investors targeting chief executive officers.

ISS released a paper on Tuesday in response to two major proxy fights - Procter & Gamble Co and Automatic Data Processing Inc - and the rising trend of activist shareholders directly attacking CEOs for removal from company boards.

(Reporting by Michael Flaherty; Editing by Leslie Adler)