The Organisation for Economic Co-operation and Development (OECD) is consulting on general Due Diligence Guidance for Responsible Business Conduct and supplemental advice to provide practical support to companies on the implementation of the OECD Guidelines for Multinational Enterprises. This general guidance builds on the sectoral guidance already published or being developed by the OECD. Currently due diligence guidance covers […]
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Over half of the Sky’s (LON: SKY) independent shareholders rebelled against the election of James Murdoch as a non-executive director at last week’s AGM following his appointment as chairman earlier this year. Overall Murdoch received 71.6% support for his re-election, the lowest vote in favour of any of the AGM’s resolutions. However, when 21st Century Fox shareholdings are […]
Read MoreRoyal Dutch Shell experienced a relatively modest level of investor opposition to its executive remuneration report at its recent AGM with a 14% vote against, this follows the rival oil company BP’s loss of its pay vote last month. However, Manifest data shows it is the highest level of opposition Shell has received in the past six years – […]
Read MoreShareholder resolutions requesting reporting on how oil companies ExxonMobil and Chevron will adapt to climate change targets received record investor backing at their AGMs last week (25th May), according to US pressure group, Ceres. The resolution that would have required ExxonMobil to prepare an annual report examining the implications to the company’s business if world leaders follow […]
Read MoreStandard Life, which as an institutional investor is known for its stewardship approach, faced opposition to the pay awarded to its chief executive, Keith Skeoch at its recent AGM (17th May). The investment and insurance company received a 22% vote against it remuneration report. This week’s other UK AGM results also showed continuing disquiet among shareholders about executive […]
Read MoreInvestors showed their concerns over executive pay at more AGMs this week. The largest rebellion was at bookmaker Ladbrokes which faced a 42% vote against its remuneration report – this was just above the 40% vote against received last year. Ladbrokes has agreed to merge with another betting company, Coral, and stated in its annual report that […]
Read MoreMining group, Rio Tinto, which is dual-listed in the UK and Australia, avoided a large scale rebellion over its remuneration report although there was a higher level of dissension than in previous years. The voting results were announced following the Australian AGM – Rio Tinto plc held its AGM last month. The resolutions – one […]
Read MoreShareholders have again showed their discontent over excessive executive pay packages with large votes opposing remuneration reports and policies. Engineering company Weir lost its binding vote on its remuneration policy – with a 72% vote against – while at building materials supplier CRH there was a 41% vote in opposition to its policy although in its case the vote […]
Read MoreMining group Anglo American faced a 42% vote opposing its remuneration report at its AGM this week. Though not a complete rejection the company acknowledged that it needed to engage with shareholders further in advance of the remuneration policy vote next year which will be binding. Manifest gave Anglo-American’s remuneration a grade D in its […]
Read MoreThe 2016 AGM season started with major defeats for two FTSE100 companies. Last Thursday (14th April) oil giant BP and medical equipments supplier, Smith & Nephew saw their remuneration reports rejected by shareholders at their AGMs. At the BP AGM there was a 59% vote against the remuneration report and at Smith & Nephew 53% of shareholder votes […]
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