Oil giant BP, which last year lost its advisory vote on its remuneration report at its AGM, has reduced the pay of its chief executive, Bob Dudley, and will propose a simpler pay policy to shareholders at this year’s meeting on 17th May. BP disclosed in its annual report published this week that Dudley’s total remuneration for […]
Read MoreDespite public calls for pension funds to vote against WPP’s remuneration report at its AGM this week (8th June) the resolution was passed with 33.5% dissent – higher than 2015’s 22.2% protest vote. ShareAction had condemned the chief executive’s (CEO) Sir Martin Sorrell’s £70m pay packet, which makes him the highest paid CEO in the FTSE 100. The responsible […]
Read MoreExecutive pay firm, Semler Brossey, has analysed the relationship between the shareholder support given in elections of remuneration committee members and chairs and the result of the say on pay votes at US company AGMs. The study of director election results between 2014 and 2016 found that over 80% of director elections have received vote support […]
Read MoreWith the peak AGM season taking place in the next two months, Manifest’s analysis suggests investors may be concerned about the remuneration practices at some of the UK’s biggest companies holding their AGMs on 14th April. Mining company, Rio Tinto – listed in the UK and Australia – has also been struggling in the past year due […]
Read MoreProviding a simple and fair approach for remuneration committees trying to meet the challenge of getting executive pay right is the aim of a board briefing paper recently published by the Institute of Business Ethics (IBE). The IBE said the paper, Fair or Unfair? Getting to grips with executive pay, offered both practical advice on how remuneration […]
Read MoreThe founder of the Easy group of companies, Sir Stelios Haji-Ioannou, used his 49% stake in easyHotel, to vote against the company’s directors’ remuneration report leading to a majority opposing the resolution to approve the report at its recent AGM. Votes on the other resolutions were withheld. Haji-Ioannou is the largest shareholder in the Aim-listed company. A statement from […]
Read MoreEven more than its predecessors, Manifest and MM&K’s Total Remuneration Survey 2013 (May edition) deservedly earned headlines and an impressive array of coverage in the press after the launch earlier this week (even making it into Vogue, which must be a first for corporate governance research?!). However, one very important point which we made deserves particular […]
Read MoreThe Association of British Insurers have published the 2012 update to their Principles of Remuneration, with a number of key changes focusing on simpler remuneration structures while offering flexibility for special cases. Two new paragraphs have been inserted in the Principles, while content from the former Appendix is moved to an expanded Guidance section as […]
Read MoreGuest post by Damien Knight, Director, MM&K Ltd The Coalition Government, through the Department for Business, Innovation and Skills (BIS), has been consulting regularly since September 2011 about what it could do to reign in ‘excessive’ executive pay and strengthen the link between pay and performance in major companies. Today (June 20th 2012) the Business Secretary, Vince […]
Read MoreIn this guest article, Cliff Weight of remuneration consultants MM&K responds to a comment from David Brimacombe, senior advisor to Nestor Advisors on our January piece: ‘Remuneration Committee “Cronyism” – digging deeper’. The article was written in response to assertions from the UK’s prime minister David Cameron and cabinet colleagues that shareholder’s had failed to tackle […]
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