Lost Votes – concern mounts over corporate governance in Japan Corporate governance has come under the spotlight in Japan after one of its biggest providers of shareholder services said it may have miscounted investor votes at almost 1,000 companies ahead of annual general meetings (AGMs). Sumitomo Mitsui Trust Bank, which is entrusted to count votes […]
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CEO stakeholder commitments illusory claim Harvard duo Research conducted by two renowned Harvard academics has cast doubt on the commitments made a year ago by 181 CEOs affiliated to the Business Roundtable trade group. Twelve months ago, business leaders at some of the world’s biggest companies pledged that they would consider the interests of all […]
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UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]
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US business lobbies press for laws on boardroom diversity A group of US business associations has called on the Senate to ratify legislation on boardroom diversity that was passed by the other chamber last year. In an open letter to Mike Crapo, chairman of the committee on banking, housing, and Sherrod Brown, the committee’s ranking […]
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Greek companies will soon be mandated to meet a 25% female quota on their boards following a landmark decision for gender diversity. The quota requirement has been included as an amendment to the bill transposing the EU Shareholder Rights Directive II (SRD II) into Greek law, and is the result of a consultation led by […]
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Corporate governance stakes centre stage in US/China face off
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Boardroom woes sees more departures from EasyJet Further turmoil has gripped budget airline EasyJet after two board members announced their departure amid the ongoing bitter row between the leadership team and founder Stelios Haji-Ioannou over a plane order. EasyJet ordered more than 100 aircraft worth £4.5billion from Airbus in 2013, which chief executive Johan Lundgren […]
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Direct engagement with companies produces better results than shareholder resolutions at AGMs, an asset manager has argued. US investment house T Rowe Price, which runs approximately $1trn, stated in its annual ESG report that it preferred to engage one-to-one with companies to encourage positive changes rather than focus on shareholder campaigns at annual meetings. The […]
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For some companies, the ability for shareholders to have a voice is a source of constant annoyance. For proxy voting agents, such as Minerva, understanding the rules of the game and where the lines are drawn is key. Shareholder rights and stewardship are protected by law. In the US for example, the Securities Exchange Act […]
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The chair of the European Confederation of Directors Associations (ECODA) has urged boards to embrace ESG in the fightback against coronavirus and the economic chaos which will likely follow the pandemic. In an open letter, chair Jan Wesseldijk explained it is the responsibility of companies to contribute to the survival of the economy, noting that […]
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