On Shareolder Voting Trends … It shows that the average level of support for management proposals rose from 75.8% in 2006 to 84% last year. In Europe, Manifest, a shareholder-advice firm, says 97% of all shareholder votes cast in Europe last year were supportive of management…. June 2nd 2009 Evening Standard >> ….A big problem, […]
Read MoreNine leading US pension funds have announced that they will be disclosing their voting intentions for shareholder meetings on a new web portal, ProxyDemocracy. AFSCME Employees Pension Plan, CalPERS, CalSTRS, Calvert Investments, Christian Brothers Investment Services, Domini Social Investments, the Florida State Board of Administration, Green Century and Trillium Asset Management are making their individual proxy […]
Read MoreA new study prepared by Manifest’s US partner, PROXY Governance with sponsorship by the IRRC Institute, “Effectiveness of Hybrid Boards,” analyzes 120 “hybrid boards” formed from 2005 through 2008 to evaluate their effectiveness in two areas: changes in business strategy and corporate governance structures; and changes in shareholder value measured both absolutely and relative to […]
Read MoreFrom the self-styled “Wall Street Tabloid” DealBreaker ….in the face of mounting losses and some very poor risk management very few corporate heads have actually been tossed by shareholders. Government, of course, has been more “effective” in this regard. Still, of the vanishingly small pool of shareholder executed CEO defenestrations CEO pay has played a […]
Read MoreDid the Lloyds board act with sufficient care on the HBOS deal? Manifest takes a look at the legal aspects of directors’ duties in the context of one of this century’s most politically charged takeovers. The 2006 Companies Act for the first time codified a number of long established common law principles relating to the […]
Read MoreBanks were ownerless corporations whose shareholders gave their governance role a low priority. That’s just one of the damning conclusions from the UK’s Treasury Committee which has released its third report on the Banking Crisis. The report entitled “Banking Crisis: reforming corporate governance and pay in the City” has a wide brief looking not just at City pay […]
Read MoreVernon Sankey has stepped down as chairman of Photo-Me International with immediate effect, prompting the photo booth operator’s principal shareholders to withdraw an EGM requisition seeking his removal. Cycladic Capital and Principle Capital were seeking the immediate removal of both Sankey and the company’s chief executive, Serge Crasnianski. Sankey will be replaced on […]
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