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 […]
Read MoreFrench 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 […]
Read MoreResponsible 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 […]
Read MoreEducational 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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FTSE 250 construction company Crest Nicholson, which emphasises its sustainable approach to housing developments, had its remuneration report rejected by shareholders at its AGM this week. There was a 58% vote against the non-binding annual remuneration implementation report. In a separate binding vote on the company’s remuneration policy there was a 96% vote in favour. Crest Nicholson […]
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WPP, whose chief executive Sir Martin Sorrell last year caused headlines for a £70m pay package, has announced its final investment performance figures for its controversial long term incentive scheme, LEAP. The WPP figures show that Sir Martin Sorrell would receive £41.5m from the LEAP scheme for 2016 – compared with their value of 20.69m when the shares […]
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The UK’s Financial Reporting Council (FRC) has argued that it needs more powers to take enforcement action against directors so that it can investigate and prosecute all directors for financial reporting breaches and associated issues of integrity, rather than only accountants and actuaries as at present in its response to the government’s green paper on corporate […]
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Travel company, Thomas Cook received a warning on pay this week at its AGM when the voting results showed that some investors at starting to take a joined up approach to remuneration-related voting. This is a signal to all companies seeking approval for their remuneration policies and new incentive plans this year that shareholders do not […]
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Despite attempts at investor engagement, tobacco firm Imperial Brands has withdrawn the resolution amending its policy at its AGM next week (1st February). The company said that that the decision followed consultations with shareholders, and that the existing policy approved by shareholders at its 2015 AGM will continue to apply. The withdrawal of the resolution suggests that the company […]
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The UK’s Pension’s and Lifetime Savings Association (PLSA) has advised its pension fund members to act more strongly on executive pay. It is advising funds oppose the re-election of the remuneration committee chair as a company director if they decide as shareholders to vote against a company’s remuneration policy. The PLSA’s voting guidelines for 2017 have been […]
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