The Investor Stewardship Group (ISG), a coalition of some of the largest U.S. based institutional investors and global asset managers, along with several of their international counterparts, is working with US companies to ensure they comply with its corporate governance framework which takes effect from 1st January 2018. The framework, which incorporates corporate governance and stewardship […]
Read MoreMinority shareholders in Accor, were disappointed when their resolution was not passed at its AGM (5th May) meaning double voting rights continue for large investors in the hotel chain. French social investment firm, Phitrust Partners, advised by corporate governance and proxy voting specialists Proxinvest, submitted the resolution – calling for the principle of “one share – one vote” […]
Read MoreResponsible investment pressure group, ShareAction is calling on investors to oppose the executive pay policies of oil companies, Shell and BP, arguing that they are not aligned with the long-term interests of shareholders. ShareAction said that the remuneration for executives at both oil companies is rewarding the achievement of corporate strategies which could put shareholder value […]
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Shareholders in scandal-hit US bank Wells Fargo gave the company a signal of their dissatisfaction in voting at its recent AGM. While the re-election of the directors was passed with the majority of votes cast the proportion in favour for many of the directors was considerably lower than normal. The chairman of the board, Stephen […]
Read MoreUK pension fund, Universities Superannuation Scheme, (USS) has called on the Dutch paintmaker AkzoNobel to engage constructively with its US rival PPG which has recently submitted a third bid for the company, AkzoNobel said it will consider the proposal in line with its fiduciary duties and acting under the Dutch governance code. Daniel Summerfield, Co-Head of Responsible […]
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Investors in machinery, vehicle and engine manufacturer Caterpillar have called on its board to establish a special committee to investigate any risks related to tax schemes set up by the company which are now subject to investigations by US federal authorities. At the beginning of March Caterpillar admitted that US law enforcement authorities had entered three of […]
Read MoreMajor institutional investors were among those criticising retailer Sports Direct at its AGM this week and showed their disquiet about the company through their votes. The majority of independent shareholders voted against the re-election of the chairman Keith Hellawell and in favour of a shareholder resolution put forward by the Trade Union Share Owners (TUSO) group and Islington Council […]
Read MoreIn a surprise change of PR last Friday, (26 August 2016) Sports Direct announced that it would hold a public open day to coincide with its AGM on 7th September at its premises in Shirebrook. The event is said to “enable the board to engage with as many people as possible in an open discussion about the […]
Read MoreUS investors passed the first shareholder resolution in a decade at ExxonMobil when they voted to back the proxy access resolution at its recent AGM. The non-binding resolution called for the oil company to give investors that have jointly held at least 3% of its common stock for at least three years the ability to nominate directors using […]
Read MoreA group of institutional investors has called on companies to assess and report their climate-related risks within their annual report to shareholders, in the interests of prudent and long-term capital stewardship. The position paper has been signed by Natasha Landell-Mills, head of stewardship at Sarasin & Partners; Councillor Kieran Quinn, chair of the Local Authority Pension Fund […]
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