GovernanceWatch: Kier Group

UK Governance Watch FTSE 250-listed Kier Group’s suffered a shareholder revolt at its 2017 AGM after 44.16% of shareholders opposed the approval of its remuneration report. The construction and services business also saw 21.24% of shareholders oppose its remuneration policy. The key cause for shareholder concern was the remuneration committee’s decision to award CEO Haydn […]

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GovernanceWatch: JD Wetherspoon

UK Governance Watch At JD Wetherspoon shareholders may hold concerns with the level of independence on the board. At the conclusion of the FTSE 250 pub owner and operator’s AGM the board will comprise three executive directors, Chairman Tim Martin – the company founder and controlling shareholder – and four non-executive directors. Of the four […]

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GovernanceWatch: SIG plc

UK Governance Watch SIG plc is holding a general meeting on 7 November in order to seek shareholder approval of a new remuneration policy and long-term incentive plan (LTIP). In the FTSE250 industrial group’s annual report it was reported that the remuneration committee was conducting a review of executive pay and consulting with shareholders and […]

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GovernanceWatch: Hargreaves Services, Brooks MacDonald

UK Governance Watch At AIM-listed infrastructure group Hargreaves Services’ 2017 AGM around 20% of shareholders opposed the adoption of its remuneration report. Shareholders likely held concerns with the level of disclosures provided in the report regarding performance targets and the lack of director shareholding guidelines and clawback provisions. The disclosures on these policy aspects continue […]

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Melrose plc logo

When you submit your proxy votes it’s normally safe to assume that what you voted on is, well, what is going to get voted on. Maybe not. Now that the dust has settled on the takeover of GKN plc by Melrose Industries plc it seems like an appropriate moment to take a look at some […]

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IRRI Survey 2017

Manifest has achieved a Top 4th ranking for the independent provider that is best at delivering Proxy Voting Execution in the IRRI Survey 2017, the globally-authoritative review of trends in independent SRI & corporate governance research. The IRRI survey 2017 has asked carefully targeted questions to a broad cross-section of SRI, corporate governance and investment […]

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AIM

The London Stock Exchange has confirmed that it has strengthened the corporate governance requirements for AIM companies from the 28th September this year with new entrants to the market having to comply with the rule from the end of March 2018. The board of directors at AIM companies must now provide a recognised corporate governance code […]

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corporate governance codes

National corporate governance codes need to be adapted to take account of the challenges that exist when companies have dominant shareholders or small groups of shareholders collectively have a dominant share of the total shareholder vote according to a survey of directors conducted by the accountancy firm Mazars, the international accountancy and advisory firm, and the […]

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UK corporate governance code

The Institute of Directors (IoD) has called for tougher rules on executive pay, including greater transparency over the effect of share buy-backs,  in its response to the Financial Reporting Council’s (FRC) consultation on the revised UK corporate governance code. The IoD has also suggested that remuneration committees at large listed companies should be made to report […]

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Wells Fargo

The US central bank, the Federal Reserve, which regulates the country’s financial institutions, has restricted the growth of Wells Fargo following “recent and widespread consumer abuses and other compliance breakdowns”. The restriction on the bank is to continue “until it sufficiently improves its governance and controls”. The Federal Reserve Board (FRB) issued a cease and desist […]

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