The Pensions and Lifetime Savings Association (PLSA), the membership body for UK’s pension funds, has published its AGM Season Report 2016, focusing on executive pay using data provided by Manifest. A survey of PLSA members for the report found that 87% of respondents believe executive pay is too high. A majority – two-thirds (63%) – of the 87% believe […]
Read MoreThe British press were this weekend widely tipping that the publication of Theresa May’s flagship corporate governance reforms will be published this week. The BBC, Guardian, Telegraph, Sunday Times, and Scotsman have all run more or less the same articles over the weekend highlighting the key features of a proposed Bill: A requirement for companies to […]
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UK Prime Minister Theresa May appeared to soften her stance on board worker representation within UK companies having previously suggested they should be represented alongside consumers. Speaking at the CBI annual conference this week she said that the government’s coming green paper on corporate governance would address executive pay, shareholder accountability and how “we can ensure the employee […]
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UK fund managers members take executive pay reform seriously according to the UK’s Investment Association, which this week responded to the recommendations of the Executive Remuneration Working Group. In its new Principles of Remuneration, the IA suggests that rather than opting for the default Salary/Bonus/Long Term Incentive Plan (LTIP) pay structure, firms should consider pay structures which fit their business and […]
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In sharp contrast to US Republican moves to unwind the Dodd Frank corporate governance reforms introduced after the global financial crisis, the UK’s newly appointed Conservative party leader and soon to be prime minister, Theresa May, has signalled strong support for a progressive corporate governance agenda. Speaking in Birmingham on Monday, (11-Jul-2016) at what was to be the start […]
Read MoreThe initial response of the top UK companies to new reporting requirements was not to curb executive pay or improve the link CEO pay and firm performance at FTSE 100 companies, but led instead to “opportunistic reporting for the sake of reputation management,” says a study from Cambridge Judge Business School and King’s College London. The research looked […]
Read MoreDespite public calls for pension funds to vote against WPP’s remuneration report at its AGM this week (8th June) the resolution was passed with 33.5% dissent – higher than 2015’s 22.2% protest vote. ShareAction had condemned the chief executive’s (CEO) Sir Martin Sorrell’s £70m pay packet, which makes him the highest paid CEO in the FTSE 100. The responsible […]
Read MoreExecutive pay firm, Semler Brossey, has analysed the relationship between the shareholder support given in elections of remuneration committee members and chairs and the result of the say on pay votes at US company AGMs. The study of director election results between 2014 and 2016 found that over 80% of director elections have received vote support […]
Read MoreRoyal Dutch Shell experienced a relatively modest level of investor opposition to its executive remuneration report at its recent AGM with a 14% vote against, this follows the rival oil company BP’s loss of its pay vote last month. However, Manifest data shows it is the highest level of opposition Shell has received in the past six years – […]
Read MoreFerrexpo, which manufactures iron ore pellets which are used in the steel industry, has received a high level of opposition from shareholders to a number of resolutions at its AGM this week (19th May) including those relating to the appointment of non-executive directors. This has meant the company will need to call a second vote to […]
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