EU Commissioner Michel Barnier’s Green Paper on Corporate Governance closed for consultation on Friday. The irony of the US declaration that shareholders cannot nominate their own directors coming out on the same day will not be lost on the governance community. What is at stake is “Comply or Explain” versus a rules -based regulatory environment […]
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 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 […]
Read MoreDebate at the recent meeting of the European Corporate Governance Forum (ECGF) on the subject of related party transactions, ahead of the publication of a statement on the subject, underlined again the problems faced by European companies in effectively communicating with their shareholders on a key strategic issue. On occasions where potential related party transactions […]
Read MoreIf 2008 was the year of crisis and 2009 the year of survival and steadying the ship, 2010 was the year of longer-term policy response. If one word stands out more than any other from the policy debates of last year, it is “Stewardship”. The word has so many aspects to its meaning, making it […]
Read MoreThe US Society of Corporate Secretaries and Governance Professionals (SCSGP) has called for the SEC to regulate proxy advisory agencies “to change certain of their current procedures”, in order to “make the processes and methodologies utilized by the proxy advisory firm more transparent, accountable and reliable”. In a letter to the Secretary of the SEC, […]
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