Holders of common shares in Millicom International Cellular are in line for a surprise pre-Christmas bonus, to the tune of $3 per share. Shareholders at Millicom’s EGM, convened specifically for the purpose, today voted in favour of the special dividend proposed. Why is this likely to be a surprise? Well that’s because very few institutional […]
Read MoreOne of the questions faced by investors when considering say on pay votes is whether the payout is appropriate. While salary may be easily compared against peers, assessing how appropriate the bonus is may not be so straightforward. To try to get a clearer perspective on such a hot topic, Manifest teamed up with Swiss research organisation, Obermatt, in an […]
Read MoreManifest has released it’s first executive remuneration analysis using the Obermatt Bonus Index. The analysis of Swiss-quoted Novartis shows that former CEO Daniel Vasella’s received a bonus in 2009 almost three times the amount he would have been due based on the relative earnings growth of the company’s peer universe. According to Manifest’s calculations, Vasella’s total […]
Read MoreFrench President Nicolas Sarkozy has stepped into the governance spotlight with a plan to keep bankers pay under control. Following a meeting on Tuesday between Sarkozy and France’s top banks, including BNP Paribas SA and Société Générale SA the banks agreed to penalize traders who lose money for their firms after getting a bonus and to […]
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