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 […]
Read MoreShareholders 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 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% […]
Read MoreOil giant BP, which last year lost its advisory vote on its remuneration report at its AGM, has reduced the pay of its chief executive, Bob Dudley, and will propose a simpler pay policy to shareholders at this year’s meeting on 17th May. BP disclosed in its annual report published this week that Dudley’s total remuneration for […]
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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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Nearly half of S&P 100 companies included information in 2016 that showed how they responded to shareholder concerns and made changes to policies, according to a new report from US corporate adviser, Equilar. In 2016 42% of S&P 100 companies included disclosures in their proxy statements on how they modified their practices after engaging […]
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The EU’s council of permanent representatives has endorsed an agreement between the Slovakia, which holds the presidency of the European Council, and the European Parliament that agrees revisions to the second Shareholder Rights Directive. Lucia Žitňanská, Minister for Justice of Slovakia said: “The financial crisis revealed that in many cases shareholders supported excessive short-term risk-taking by managers. […]
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Shareholders of Australian companies are showing their muscle in this year’s proxy season with significant opposition votes over the governance of retailer Harvey Norman and a rejection of executive pay at the Commonwealth Bank of Australia. The Australian Shareholders Association has called on the chairman of Harvey Norman, Gerry Harvey, to resign and for an independent non-executive […]
Read MoreThe US Council of Institutional of Investors (CII) has written to the House of Representatives’ Financial Services Committee objecting to a number of proposals in its Financial CHOICE Act – which has now been approved by committee. This proposed law is part of earlier attempts by the Committee – in a series of bills passed in […]
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