The Say on Pay continues to play out at US annual meetings this year – both in terms of management and shareholder proposals. Here are a few highlights prepared by Allie Monaco of ProxyGovernance: Two management say on pay proposals were defeated at meetings last week. At its May 3 meeting, Motorola Inc became the […]
Read MoreEuropean companies fail to link executive pay to environmental, social, and governance (ESG) performance according to new research published by Eurosif (European Sustainable Investment Forum). The report, produced in association with an investor-led steering committee including Groupama Asset Management, Henderson Global Investors, MACIF Gestion, PhiTrust Active Investors, Robeco and Société Générale Gestion, highlights what EUROSIF sees as “critical challenges and […]
Read MoreAccording to the Chinese calendar, 2010 will be the Year of the Tiger. It will also be the “the year of regulation” for the financial world. Adding to the reading pile is US Senate Banking Committee Chairman Chris Dodd’s mammoth proposals to overhaul the US financial regulatory system. Spread over 1,100 pages, the proposals woiuld not only strip the […]
Read MoreThe first big week of Australian proxy season has seen a number of revolts on executive pay, with one ASX 100 company losing the remuneration report vote and two others seeing very significant dissent. At Downer Edi, the remuneration report was defeated, with investors reacting to reduced performance hurdles for the long-term incentive plan and […]
Read MoreThirty US investors representing assets over $1 billion to have written to 17 financial companies asking for a say on pay this proxy season. The letter, addressed to addressed to the CEO and Chairs of the Compensation and Governance Committees of the companies, was coordinated by Walden Asset Management and the State of Connecticut Treasurer’s Office. […]
Read MoreIn a move highlighting the changing landscape of shareholder-company relations in Germany, two DAX 30 constituents are meeting with investors in advance of the first shareholder votes on executive pay. Top executives from Siemens AG and Thyssen-Krupp AG — which will convene AGMs on 26 January 2010 — will huddle with several key investors today, with executive remuneration likely to be a point of […]
Read MoreThe US Senate has revealed its proposals to overhaul the American financial system through Senator Christopher Dodd’s “Restoring American Financial Stability Act of 2010”. Across 1,336 pages the Bill outlines a series of remedies which it states will end “too big to fail” and restore responsibility and accountability to the markets. Commentators have observed that the […]
Read MoreThe Extraordinary General Court of Bank of Ireland held today (Jan 12) approved important changes to the Bye-Laws of the company, with 99% of shareholders voting in favour. Bank of Ireland was established by Charter and thus is subject to a somewhat different regulatory structure than companies incorporated under the Companies Act. The Bye-Laws of […]
Read MoreCanada’s largest financial institutions have agreed a voluntary approach to “say-on-pay” which will see a standardised, non-binding shareholder vote proposed during the 2010 season. In a sharp contrast to the US’ legislative battle to give shareholders a voice on executive pay, Canadian shareholder groups and companies have worked together to create a common format which […]
Read MoreEthos have announced that eight of the 20 companies included in the Swiss SMI Index have now agreed to implement a vote on remuneration issues. In the autumn of 2008, Ethos and eight Swiss pension funds filed a “say-on-pay” resolution requesting an advisory vote on the remuneration reports of five of the largest listed companies […]
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