Tomorrow’s Company, the UK-based ‘think and do’ tank on successful, sustainable business yesterday launched their latest study “Tomorrow’s Corporate Governance: Bridging the UK Engagement Gap Through Swedish-style Nomination Committees”, at the opening of the ICGN mid-year conference at the Guildhall in London. The idea for the report came out of discussions with Cevian Capital, the Swedish active owner. […]
Read MoreUS pay czar Kenneth Feinberg has announced that a number of the highest-paid executives at bailed out companies will have their remuneration cut by an average of 15 percent this year. Cash salaries will be set at $500,000 or less for 82 percent of the executives named in the ruling which takes in the top […]
Read MoreInsitutional investors can shape the governance debate more effectively by integrating ownership into their mainstream investment activiites according to a new position paper published by Eumedion, the Dutch shareholders group. As the paper points out, the focus around the publication of the Dutch Corporate Governance Code in 2003 was on reinforcing the legal position of […]
Read MoreUBS has confirmed that it will be seeking a formal liability discharge at next month’s AGM for the board members and senior executives involved in the bank’s management during the financial crisis. No liability discharge resolution has been proposed for the past two financial years due to ongoing internal and external investigations into the multi-billion dollar write-offs the company […]
Read MoreThe Auditing Practice Board has published 137 responses to its consultation on audit firms providing non-audit services to listed companies that they audit. A consistent theme in may of the responses is a call for further transparency in disclosures in accounts of listed companies in relation to the non-audit work undertaken by the auditor. While […]
Read MoreLondon based investor relations advisor HQB Partners has released its 2010 pre-season survey of corporate governance teams at 23 leading institutional investors in the United States, the United Kingdom, France and the Netherlands. In all the respondents manage assets in excess of US$ 11.1 trillion. According to the survey, three issues were identified by more than […]
Read MoreThe Irish Stock Exchange is considering whether there should be a stand-alone Irish corporate governance code following revelations of governance shortcomings in the market. According to a new report by accountants Grant Thornton, Ireland has seen a sharp decline in compliance with the Combined Code with just over just over one third (36%) of companies claiming […]
Read MoreEasyjet has joined the ‘remuneration-report hall of shame’ following yesterday’s AGM when 28% of shareholders opposed its remuneration report. The revolt puts the low cost airline in the company of Shell, Grainger, Punch Taverns and who have all suffered remuneration defeats at the ballot box. The result probably comes as no surprise given the sharply increased focus on executive […]
Read MoreFebruary’s Guest Article is by Louise Rouse, FairPensions’ Director of Investor Engagement and looks at their recent initiative to engage with leading oil producers about their oil sands projects The 2010 AGM season could herald both a new era of public accountability for companies and their investors and a template for future shareholder activism. Having […]
Read MoreShareholders are getting used to Lord Myners, the UK’s Financial Services Secretary, exhorting them to act responsibly, but his speech at the National Association of Pension Funds recent corporate governance seminar reveals some new insights. Drawing on remuneration surveys from both sides of the Atlantic, Myners noted that in as little as a decade, executive […]
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