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Nine out of ten audit committee members say that the recession has increased the risk of earnings management and other misconduct – and yet fraud risk was the issue committees felt they were least effective at overseeing.
Research by KPMG’s …
Read MoreThe Department for Business, Innovation and Skills has this week announced The Companies (Shareholders’ Rights) Regulations 2009 (to come into force on August 3rd), signalling completion of the final legislative stage of the European Shareholders’ Rights Directive. The Directive …
Read MoreThe governance issues raised by the Marks & Spencer AGM and Manifest’s analysis of the outcome received broad coverage in the UK press and broadcast media. In addition to newspaper coverage, Manifest was asked for its input on BBC Radio …
Read MoreThe LAPFF took their place in the governance history books today. Although they failed to come close to the super-majority needed to have their resolution calling for an independent chair passed, they have achieved a remarkable result. Taking into account …
Read MoreGovernance veteran Bob Monks recently attended the London Business School’s Colloquium on Corporate Governance, an invitation-only event comprising 75 of the leading governmental, private sector business and investors in the UK who convened to consider recent governance failings.
Bob was …
Read MoreResolution 8 at today’s AGM covers the re-election of Louise Patten, chair of the remuneration committee, who has overseen the unpopular payouts of the performance/retention awards.
‘These are clearly retention awards, not exceptional awards and they should have just been …
Read More….Investors are increasingly strident about pay following criticism that they had been soft on boards and had sanctioned the excessive bonuses blamed for the banking crisis. Voting advisers have highlighted investor concerns about pay at other businesses, including Marks and …
Read MoreTesco’s AGM today saw the largest against vote (41.03%) against a share plan at a FTSE 100 company since Manifest began collecting voting data in 1996. When analysed including abstentions, it was the largest rebellion in the FTSE 100 in …
Read MoreThree AGMs have this week seen shareholder dissent reach notable levels.
Home Retail Group shareholders voted to approve the remuneration report, but dissent represented the fifth biggest rebellion on the remuneration report in the FTSE 100 so far in 2009. …
Read MoreSome 18 Japanese companies are known to have disclosed the results of their 2009 AGMs on their corporate websites, in what is an improvement from two companies on 2008 according to Sumitomo Trust. Japanese regulators are expected to introduce a …
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