Minerva & Manifest in the News
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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 governance: More >>
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, 2016Last Updated: 6 June 2018