UK corporate governance code

There continued to be a focus on executive pay in 2017 by shareholders of FTSE 350 companies data from Manifest for the Pensions and Lifetime Savings Association’s (PLSA) AGM voting review showed. The PLSA stated that the executive pay awards continued to be the most controversial aspect of corporate governance, with the figures of significant remuneration-related […]

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banking

Australia’s 2017 AGM season was significantly “less tumultuous” than the 2016 season, with fewer ‘strikes’ (a 25% vote against) on remuneration reports the Australian Securities & Investment Commission (ASIC) has reported. Most Australian companies hold their AGMs in October and November and the ASIC reviews the voting results from those meetings each year. The ASIC […]

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RBS ShareSoc shareholder committee

Over 100 shareholders have again requisitioned a resolution calling on the Royal Bank of Scotland (RBS)  to establish a shareholder committee in a campaign organised by private investor groups – the UK Individual Shareholders Society (ShareSoc) and the UK Shareholders Association (UKSA). The resolution and requisition forms from 161 shareholders were delivered to the RBS’s London […]

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Investment Association shareholder rebellion register

The Investment Association (IA), which represents the UK’s asset management industry, has launched its public register of listed companies which have had significant shareholder rebellions. The IA proposed its development in its response to the government’s green paper on corporate governance in 2016 and was asked to go ahead with the launch of the government’s […]

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US corporate governance framework

The Investor Stewardship Group (ISG), a coalition of some of the largest U.S. based institutional investors and global asset managers, along with several of their international counterparts, is working with US companies to ensure they comply with its corporate governance framework which takes effect from 1st January 2018. The framework, which incorporates corporate governance and stewardship […]

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Indian proxy season

The Indian proxy season for 2017 represented a tipping point for shareholder activism, according to corporate governance advisory service, InGovern with institutional investors now prepared to take on company boards. In its overview of this year’s season, which begins in January and peaks in September in India, InGovern said the number of cases where shareholders […]

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Ethos Swiss shareholders vote

Investors in leading Swiss companies are increasingly prepared to vote against management, particularly over executive pay, according to research by the Ethos Foundation. Ethos, a pension fund-led responsible investment foundation shows that amongst the 200 companies comprised in the stock market index SPI, the average approval rate for items put to a shareholder vote reached […]

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International Corporate Governance Network (ICGN)

Michael McCauley, Senior Officer – Investment Programs & Governance State Board of Administration (SBA) of Florida, which runs the assets of the state’s pensions funds, has taken over from Triodos’ Erik Breen as chair of the International Corporate Governance Network (ICGN). McCauley is also a former chair Council of Institutional Investors and a founding member of […]

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The independent shareholders of Alphabet, Google’s parent company, overwhelmingly supported a shareholder resolution asking company management to recapitalise the share structure so that each share has one vote at its recent AGM (7th June). The resolution was put forward by NorthStar Asset Management, corporate governance activist and author James McRitchie, and activist investor John Chevedden […]

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Caterpillar AGM tax scheme

CtW Investment Group, the US corporate governance adviser to trade union pension funds (Taft Hartley funds), has suggested that investors should vote against the re-election of three of Caterpillar’s directors and in favour of a shareholder resolution proposing that the company’s clawback policy to include events that may result in reputational damage to the company at […]

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