Minerva & Manifest in the News

Our research and data are highly trusted by leading media outlets and academic authors. If you are a journalist looking for information or background to global corporate governance or proxy voting issues please contact Sarah Wilson, Chief Executive or Eden Smith, Communications  Manager.

Telephone: + 44 (0)1376 503500 Email: hello@minerva-analytics.info


Recent Press Releases


Us Proxy Plumbing- Eight Years Later

US Proxy Plumbing: SEC Re-opens Investigations Plans to review proxy plumbing infrastructure “long overdue, but very welcome”. The Securities and Exchange Commission has announced it will re-examine the US proxy voting system.  The US securities regulator, the Securities and Exchange Commission, is inviting comments on its proposal and will host a round-table this autumn to..

Minerva| Aug 2, 2018




Recent Coverage


Revealed: most ESG-friendly asset managers

Sarah Wilson, CEO of Minerva Analytics, the independent stewardship support service, says: “There is now a race in fund managers committing to show their credentials on sustainability.”

Ms Wilson says: “[Asset managers] have often struggled with ESG as a concept when maximising shareholder returns has traditionally been more important. But now firms are thinking about holistic returns.”

Ignites Europe | November 26, 2018

Big two proxy advisers face glare of SEC scrutiny 

Glass Lewis and ISS in the spotlight amid accusations they wield too much influence

Sarah Wilson, chief executive of Minerva, a UK-based proxy adviser, says improvements are needed in the shareholder voting process but she argues that this reform should centre on the plumbing — or how shareholders can use their votes — rather than the advice they receive. She says companies lobbying against proxy advisers fear greater shareholder attention. “They expect every vote to be in favour of management and don’t want any scrutiny at all. [The current pushback against proxy advice] is an attack on ideas,” she says.

Financial Times | November 12, 2018

Global Strategies: Shouldering responsibility

“You’re now seeing a new generation of investment analysts who are actually saying these are not extra financial factors, they are factors which do drive financial issues, but you might not see them in the immediate next two quarters,” says Sarah Wilson, chief executive of voting services group Minerva Analytics.

Funds Europe| October 3, 2018

Premier Foods chief narrowly survives AGM ouster attempt

“UK boards can normally expect levels of support in the high 90s. A negative vote of over 40 per cent reveals a disturbing gulf in expectations”, Sarah Wilson, Minerva Analytics.

In the past decade, only three other chief executives have had more than 40 per cent of votes cast against their re-election, according to Minerva Analytics, the voting services group.

Financial Times | June 19, 2018

A trio of influential shareholder advisers have called on UK politicians to mount a fresh crackdown on FTSE bosses’ bonus schemes and to boost the role of retail investors in corporate governance.

Institutional Shareholder Services, the largest and most influential of the firms, its US counterpart Glass Lewis, and UK agency Minerva Analytics — previously known as Manifest — offered submissions to a UK Parliament’s Business, Energy and Industrial Strategy committee that is looking into the issue. Continue reading >>

Financial Times | June 6, 2018

Minerva gives evidence to UK parliament on corporate governanceMore >>

Parliamentlive | 6 June, 2018

UK company chiefs awarded bumper pay rises in 2017

“The Minerva research found that the median figure for CEO pay rises in 2017 stood at 6 per cent during 2017.”

Financial Times | June 1, 2018


“The combination of the binding vote and focus on engagement is having a positive effect,” said Sarah Wilson, chief executive of Minerva. “Contrary to initial concerns about damaging returns, the binding vote has created a much stronger connection between boards and shareholders, which can only be good.”“Businesses that pay excessive salaries to senior executives represent the “unacceptable face of capitalism”, Prime Minister Theresa May has said. Sarah Wilson is chief executive of the shareholder group Manifest and Andrew Ninian is the head of Corporate Governance at the Investment Association.” (podcast: 1:13:12/ 3:02:59)

BBC Radio 4 | August 28,2017

FTSE companies avoid shareholder wrath on pay at AGMs

Concessions on executive remuneration result in fewer large protest votes than a year ago. Ahead of this year’s shareholder meeting season, investors predicted … Shareholders pay revolts in the UK, FTSE 350 companies 2013-17, percent of investor who dissented includes those who voted against and abstentions by shareholders (Source: Manifest’s data and comment) …

Financial Times | May 12, 2017

Boardroom excess? British companies stick with bonus plans despite criticism

Analysis by Reuters of company annual reports and data from governance advisory firm Manifest shows 59 members of the FTSE 100. FTSE blue-chip stock index recently updated their remuneration policy or plan to soon, of which 56 currently use or plan to continue using LTIPs.

Reuters | April 13,2017


Sky Shareholders Protest James Murdoch’s Return as Chairman

“Excluding votes representing Murdoch interests, about 51 percent were against James Murdoch’s re-election, according to Manifest, a London-based proxy voting agency that has raised governance concerns about his role.”

Bloomberg | October 13, 2016

Analysis: Will Sports Direct’s shake-up soothe disgruntled investors?

A big question mark remains over Sports Direct’s corporate governance. As its chief executive, can Mike Ashley really convince investors the company will be run in a different way? One shareholder advisory group has already expressed its concern. “Shareholders really want to see that Mike is willing and able to take independent advice,” says Manifest founder and chief executive, Sarah Wilson.

Retail Week | September 23, 2016

Legal & General warns firms over bonuses and pay

Sarah Wilson, chief executive of shareholder advisory body Manifest, said LGIM was addressing how much the chief executive is paid relative to the ……..

The Guardian | September 16, 2016

Theresa May’s executive pay plans meet further scepticism
Doubts over effectiveness of boosting investor powers on tackling high pay awards

Financial Times | October 9, 2016

Last Updated: 2 August 2018
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