The European Commission has recently announced it intends to initiate processes for taking action against EU Member States over implementation of the Shareholders Rights Directive (SRD). The Directive, which was passed in 2007, establishes Europe-wide principles for ensuring certain basic …
Read MoreThe California Public Employees Retirement System (CalPERS) has signalled a move into more direct activism after a vote this week (Monday) to remove a cap on the number of shareholder proposals it can issue.
Until now, the $200 billion fund …
Read MoreWhen is an abstention not an abstention? A possible party-time trivia question for lawyers maybe, but a question with real consequences for shareholders which highlights yet again the importance of ensuring local knowledge is applied to voting decisions.
Most company …
Read MoreThe UK’s Financial Reporting Council (FRC) has warned against companies signing up for “bundled audits” pending completion of a review into the ethical questions surrounding their use.
As we reported in August, the downturn has encouraged the development of a …
Read MoreAustralia is proposing some innovative steps to address concerns about executive pay. This week, the Productivity Commission released a detailed discussion document outlining a series of reforms which it hopes will improve board accountability, remove conflicts of interest and enhance …
Read MoreIntesa Sanpaolo, Italy’s biggest retail lender and the by-product of the takeover of Sanpaolo IMI by Banca Intesa is an excellent case study of a) how not to construct a post-merger board and b) how not to engage with shareholders …
Read MoreThe preliminary proxy statement filed by Verizon Communications ahead of their AGM on 6 May has revealed that the former President and Chief Operating Officer, Dennis Strigl, who retired from the company effective 31 December 2009, will receive a separation …
Read MoreWith shareholder engagement moving ever higher up the (potentially) regulatory and market best practice agenda, voting is likewise coming under the spotlight. In recent days, we have seen the unexpected result of the Infineon AGM provoke concerns about ‘irregularities in …
Read MoreChanges in the Executive Suite Lead to Expensive Consulting Deals
Widely seen by analysts as one of the weaker performers in the U.S. meat sector, Tyson Foods, Inc. has its third CEO in as many years. In early 2009, Richard …
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