GovernanceWatch: Kier Group

UK Governance Watch FTSE 250-listed Kier Group’s suffered a shareholder revolt at its 2017 AGM after 44.16% of shareholders opposed the approval of its remuneration report. The construction and services business also saw 21.24% of shareholders oppose its remuneration policy. The key cause for shareholder concern was the remuneration committee’s decision to award CEO Haydn […]

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GovernanceWatch: JD Wetherspoon

UK Governance Watch At JD Wetherspoon shareholders may hold concerns with the level of independence on the board. At the conclusion of the FTSE 250 pub owner and operator’s AGM the board will comprise three executive directors, Chairman Tim Martin – the company founder and controlling shareholder – and four non-executive directors. Of the four […]

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GovernanceWatch: SIG plc

UK Governance Watch SIG plc is holding a general meeting on 7 November in order to seek shareholder approval of a new remuneration policy and long-term incentive plan (LTIP). In the FTSE250 industrial group’s annual report it was reported that the remuneration committee was conducting a review of executive pay and consulting with shareholders and […]

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GovernanceWatch: Hargreaves Services, Brooks MacDonald

UK Governance Watch At AIM-listed infrastructure group Hargreaves Services’ 2017 AGM around 20% of shareholders opposed the adoption of its remuneration report. Shareholders likely held concerns with the level of disclosures provided in the report regarding performance targets and the lack of director shareholding guidelines and clawback provisions. The disclosures on these policy aspects continue […]

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SEC Securities & Exchange Commission

Four billion reasons not to fix the proxy plumbing Can the SEC resist the lobbying deluge and restore essential share ownership rights? Since the GFC, regulators have been working to make markets and economies safer. Part of that process has been to encourage market disruption by fostering better competition and increasing diversity. Now it’s time […]

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Unilever flag

Unilever: Votes and Voices Proxy plumbing adds complexity to hotly-contested simplification plan The proposed Unilever vote in October is raising City eyebrows. When the CIO of a UK insurer takes to the pages of the financial media voicing concerns over a voting issue you know it’s serious. David Cumming, head of equities at Aviva Investors, […]

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Straight through voting: where's the blockage?

As implementation of Shareholder Rights Directive II draws closer, attention is (or should be) turning to how we are going to make it happen. A cynic might say that, like MIFID II, “it’s all very well intended but….” OK, fair enough. But seriously, how are we going to get from good intentions to good outcomes? […]

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Proxy plumbing gets Securities Exchange Commission scrutiny

Proxy Plumbing: SEC Re-opens Investigations Plans to review US proxy plumbing infrastructure “long overdue, but very welcome”. The Securities and Exchange Commission has announced it will re-examine the US proxy voting system.  The US securities regulator, the Securities and Exchange Commission, is inviting comments on its proposal and will host a round-table this autumn to […]

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As reported in the FT today, the 20th edition of the Manifest Total Remuneration Survey is now online. The first report was published after the Greenbury Report and over the years the survey has become a staple and trusted resource to support engagement on executive pay by investors, issuers and regulators  alike. Headline numbers do not tell the whole […]

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BEIS Sign

As the UK Government moves towards more detailed legislative proposals for enhancing corporate governance, it has published a list of “some of the worst excuses for not appointing women to FTSE boards”. Around 30% of FTSE350 companies have few or no women on their boards or in senior roles. According to the research, which is being published as […]

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