There has been much press comment regarding the pay package of Marc Bolland, the new Marks & Spencer (M&S) CEO. M&S has been no stranger to press and investor attention in recent times. In particular, the decision to combine the roles of Chairman and CEO in 2008 attracted criticism for the failure to provide a […]
Read MoreEuropean companies fail to link executive pay to environmental, social, and governance (ESG) performance according to new research published by Eurosif (European Sustainable Investment Forum). The report, produced in association with an investor-led steering committee including Groupama Asset Management, Henderson Global Investors, MACIF Gestion, PhiTrust Active Investors, Robeco and Société Générale Gestion, highlights what EUROSIF sees as “critical challenges and […]
Read MoreIn a move highlighting the changing landscape of shareholder-company relations in Germany, two DAX 30 constituents are meeting with investors in advance of the first shareholder votes on executive pay. Top executives from Siemens AG and Thyssen-Krupp AG — which will convene AGMs on 26 January 2010 — will huddle with several key investors today, with executive remuneration likely to be a point of […]
Read MoreThe Extraordinary General Court of Bank of Ireland held today (Jan 12) approved important changes to the Bye-Laws of the company, with 99% of shareholders voting in favour. Bank of Ireland was established by Charter and thus is subject to a somewhat different regulatory structure than companies incorporated under the Companies Act. The Bye-Laws of […]
Read MoreEthos have announced that eight of the 20 companies included in the Swiss SMI Index have now agreed to implement a vote on remuneration issues. In the autumn of 2008, Ethos and eight Swiss pension funds filed a “say-on-pay” resolution requesting an advisory vote on the remuneration reports of five of the largest listed companies […]
Read MoreUnited Drug has followed the lead of DCC in proposing a vote on its remuneration report as a separate voting item at its upcoming AGM on 9 February. The notice of meeting acknowledges that there is no legal obligation on the company to put such a resolution to shareholders, so this is an ‘advisory’ resolution […]
Read MoreThe Wall Street Journal and Financial News have picked up Manifest’s recent article on remuneration report defeats. As highlighted in our posting on the Punch Taverns they joined a select list of five FTSE All Share companies to have seen their remuneration reports defeated. As the article states, getting company owners to vote at the ballot box […]
Read MoreAustralia’s Productivity Commission will submit its final report on executive remuneration to the Federal Government on 19 December. The Productivity Commission was asked to undertake a public inquiry into the regulatory framework around remuneration of directors and executives of companies regulated under the Corporations Act. It was asked to make recommendations on how the existing […]
Read MoreLondon Stock Exchange this week announced a consultation on the AIM Rules a which is open until 15 January 2010. The proposals will see all AIM companies obliged to disclose details of directors’ remuneration on an individual basis, as the rules catch up with the actual practice of most leading AIM companies. The UK Companies […]
Read MoreAs shareholders are asked to get more involved with executive pay monitoring, the problem for many investors is how to judge what is reasonable – traditional bonus plans have resulted in plans which are not aligned with performance. Basing bonuses on stock prices exposes them to external factors, including irrational behaviour that can also influence stock prices. […]
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