The use of underlying profit as an indicator of corporate performance risks misleading investors, according to a recent study conducted by Deloitte. The firm surveyed the 2010 annual reports of 100 publicly listed and other large New Zealand companies, finding that in 92% of the filings, the highlighted underlying profit improved the statutory profit result […]
Read MoreWhen market commentators talk about corporate governance they often refer to the “Anglo-American Model” of governance, as opposed to the EU’s stakeholder orientated approach. Friday’s decision by the US courts to reject shareholder “proxy access” should leave observers in no doubt that there’s nothing much “Anglo” about the American approach to governance. Despite shareholders’ ability […]
Read MoreAs shareholders were coming to terms with the implications of last week’s shocking disclosures about phone-hacking at NewsCorp, Simon Caulkin, former management correspondent at the Observer tweeted a thought-provoking observation: Re Murdochs of the world: “Our only chance of having powerful be good is to have more good become powerful” JPfeffer/HBR ow.ly/4ZM5i The link is […]
Read MoreAn analysis by Manifest of voting trends on the remuneration report since its introduction in 2003 has revealed the FTSE 100 companies with the greatest level of shareholder dissatisfaction, on average, over the period. The list includes some companies where there has been one very large dissenting vote, but the more interesting companies are perhaps […]
Read MoreIR Magazine has been looking at shareholder activism in Europe and quotes Manifest: A different style of activism?Historically, there have been obstacles to waging a successful activist campaign in much of Europe. Many markets are opaque, the proxy voting system has been leaky with votes often lost, and some countries still block any shares to […]
Read MoreThe UK’s Institute of Directors has hit out against the proposed review of executive pay and short-termism in the City. Speaking to the Daily Telegraph, Miles Templeman, Director General of the leading corporate lobby group expressed deep reservations that the review would not generate the period of stability that corporate policy needed. Lib-Dem minister for […]
Read MoreShareholders of JD Sports Fashion plc will note a massive 66% salary increase awarded to the executive chairman (from £423k to £700k) when considering the company’s remuneration report. Additionally, the remuneration committee is seeking shareholder approval for the chairman’s proposed cash-based long-term incentive award with a face value of £3.5m. The vesting conditions are based […]
Read MoreWe’ve never heard of a SLAPP suit before, or not until Wall Street Journal reported on the KBR/Chevedden case on Monday morning: Firms Try New Tack Against Gadflies: Corporations Look to Block Shareholder Activists’ Proposals by Challenging the Size of Their Stakes – WSJ.com. Here’s what Wall Street Journal Says: Companies have long viewed shareholder activist […]
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