The Wall Street Journal and Financial News have picked up Manifest’s recent article on remuneration report defeats. As highlighted in our posting on the Punch Taverns they joined a select list of five FTSE All Share companies to have seen their remuneration reports defeated.
As the article states, getting company owners to vote at the ballot box is only the first step in a complicated process to bring about change in large companies. Commenting on how investors use the remuneration vote, Manifest CEO Sarah Wilson said: “While Myners and Walker are looking for shareholders to become more engaged through the FRC Stewardship Principles, a vote without any supporting dialogue or feedback is a pretty blunt instrument. The trick of making the Stewardship Principles work will be for a more joined up strategy which integrates the governance and investment approaches so that companies can be left in no doubt as to what they need to do.”
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Last Updated: 7 January 2010