proxy voting Archives

US remuneration committee chairs get less support after losing say on pay votes, study finds

Executive 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 …

Single Figure Calculations prove tricky for Legal & General

The insurer and institutional investor Legal & General plc (L&G), had to correct its annual report pay figures for chief executive, Nigel Wilson, on the eve of its AGM last week (26th May).

L&G, whose investment division LGIM is active …

US legislators consider role of proxy voting firms

US legislators held a hearing recently (17th May) which considered possible bills which they believe would improve US financial transparency, regulation and capital market formation, including a proposal “To improve the quality of proxy advisory firms for the protection of …

Executive Pay watch emphasises US pay gap between CEOs and other employees

The US federation of trade unions, the AFL-CIO, has released its latest Executive Paywatch data which it says shows the average CEO of an S&P 500 company received an annual income of $12.4 million in 2015—335 times more money than …

Chemring Group could still face dissent over executive pay

Chemring Group, a specialist designer and manufacturer for the aerospace, defence and security industries, that was forced to engage with shareholders last year following a high level of dissent at its AGM over its remuneration practices may still not have

61 Russell 3000 companies failed Say on Pay votes in 2015

Analysis of the proxy voting at Russell 3000 company meetings last year found that 61 companies (2.8%) failed in achieving at least 50% support for their say on pay votes which have been compulsory in the US since 2011, according …

US Council of Institutional Investors highlights good engagement practices

The Council of Institutional Investors (CII), which represents pension funds and other institutional investors in the US, has published two reports highlighting the most effective ways to conduct and disclose engagement between investors and companies.

CII Investor-Company Roundtable: Effective Engagement…

ICGN welcomes ongoing review of Japanese Corporate Governance

The International Corporate Governance Network (ICGN) has welcomed the ongoing work on the Japanese Corporate Governance and Stewardship Codes. A panel of experts was established in September to encourage the adoption of the codes as well as further improving …

The Culture of Shareholder Voting: “Indentured Servitude”?!

The world of corporate governance and shareholder voting appears to have plumbed new depths this week with charges of fraud being levied against a unit of RCS Capital Corp in relation to shareholder voting. http://www.sec.state.ma.us/sct/current/sctrealtycapital/Realty-Capital-Complaint-11-12-15.pdf

According to the complaint, RCS

FCA: Miss Piggy, you are cleared for take-off

Back in September 2011, the FT ran a story exploring the frustrations felt by investors over complexity and opacity in the voting chain (“Call for clarity in proxy voting process”, FTfm, 12^th September 2011). In many ways …