Connect Group: shareholders to be satisfied with actions being taken by the Board

Connect Group: Internal control failings identified by the Board FTSE SmallCap Connect Group has recently gone through a shake-up of its executive team following trading and operational concerns, internal control failings, and a fall in share price. In light of these concerns, shareholders will need to be satisfied with the actions being taken by the […]

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ITE Group AGM

ITE Group to seek shareholder approval to amend remuneration policy At FTSE SmallCap ITE Group’s upcoming AGM the board is seeking shareholder approval to amend its remuneration policy and Performance Share Plan (PSP) to allow for enhanced awards to be granted to CEO Mark Shashoua and CFO Andrew Beach in the 2019 financial year. The […]

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Diploma plc: CEO departure deemed to be in the shareholders' interest

Diploma plc: CEO departure deemed to be in the shareholders’ interest FTSE 250 listed Diploma plc appointed in April of 2018 Richard Ingram as Interim Chief Executive ahead of the anticipated retirement of long-serving CEO, Bruce Thompson in May. The Remuneration Committee agreed to compensate Ingram for existing incentives from his previous employment which comprised […]

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FTSE 100-listed Associated British Foods reported in its annual report that a subsidiary of the Group incurred political expenditure to the approximate value of £5,000 during the year. The Company has not disclosed any further details on the expenditure, such as the nature of the expenditure, for what purpose the expenditure was incurred, and what […]

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Sky

Independent investors in media group Sky voted heavily against the remuneration report with just 36% of shareholders giving it their backing at the AGM this week (12th October). Chairman James Murdoch received a narrow vote in support of his re-election amid concerns about his lack of independence. Manifest’s pre-AGM analysis of Sky’s executive remuneration gave […]

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CEO pay revolts

The UK government has signalled that it will taking a shareholder and stakeholder market-based approach to governance reform rather than introducing more rules on executive pay. According to early briefings reported in the on  Financial Times (FT) and Daily Telegraph  he government’s response to the consultation on its corporate governance paper green paper, will published next […]

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Shareholders in FTSE 250 company, GVC Holdings voted heavily against its remuneration report at its AGM this week (20th June). However, the betting firm voiced its commitment to engaging with shareholders and has recruited a new chair of its remuneration committee to show it is developing a new approach to executive remuneration. GVC, which has […]

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French carmaker Renault will be holding its AGM on 15th June and its voting results will be closely watched due to longstanding concerns about its governance and after its vote on pay was defeated last year. The pay of Carl Ghosn, chief executive and president, was under scrutiny last year and only received 46% of votes […]

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Responsible investment pressure group, ShareAction is calling on investors to oppose the executive pay policies of oil companies, Shell and BP, arguing that they are not aligned with the long-term interests of shareholders. ShareAction said that the remuneration for executives at both oil companies is rewarding the achievement of corporate strategies which could put shareholder value […]

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Educational services company Pearson, lost the vote on its remuneration report at its AGM last week (5th May). There were also significant votes opposing the company’s remuneration policy and the re-election of the remuneration committee chair. If abstention votes are included in the total of votes there was a 61% vote against the remuneration report, 32% […]

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