Welcome to Manifest-I

This is the blog of Manifest, the proxy voting agency. Here we take a wide-ranging view of topical governance and responsible investment issues. We aim to be innovative, refreshing and thought provoking, as well as keep our readers in the loop in a rapidly evolving industry. The governance community has grown and …… continue reading >>

Shareholder engagement on pay can work!

Today’s announcement by Cairn Energy that it will withdraw resolution 2 at its General Meeting next week, demonstrates that shareholders can act on egregious pay awards when they really want to.

Cairn had proposed the award of shares to Sir Bill Gammell with a value of £2.5m (based on …… continue reading >>

Executives on Remuneration Committees of Other Companies - Drilling deeper

Since we published data on the number of executive directors in the FTSE 100 sitting on remuneration committees of other FTSE 100 companies, a common question we received was … what if you look beyond the FTSE 100? So we have re-run the numbers, looking at the FTSE All-Share (i.e. …… continue reading >>

Shareholder Nomination Committees - Just a different form of cronyism?

Last week, in a speech at a High Pay Commission seminar, the shadow business secretary Chuka Umunna and former Business Secretary Lord Myners both put forward arguments in favour of shareholder nomination committees as a way of improving corporate governance. Rather than the current UK model whereby …… continue reading >>

Crony capitalism or mass hysteria?

Journalists and politicians must not have enough to do in the post-Christmas dip. “Action looms to curb executive pay” proclaims the FT on January 5 the day before the UK’s Prime Minister David Cameron devotes precious prime time on Radio 4′s flagship breakfast talk show …… continue reading >>

“Remunerationgate” – the median isn’t the message

Whether it’s a case of “In war, truth is the first casualty” or “Lies, damned lies, and statistics”, sound arguments for reform can easily be undone by the careless use of dodgy data to fit a chosen position.

The debate around reform of executive remuneration …… continue reading >>

A surprise pre-Christmas bonus

Holders of common shares in Millicom International Cellular are in line for a surprise pre-Christmas bonus, to the tune of $3 per share. Shareholders at Millicom’s EGM, convened specifically for the purpose, today voted in favour of the special dividend proposed.

continue reading >>

Consistency in Climate Change Disclosure – A Step Closer?

Companies face increasing pressure from governments, investors and other organisations to measure and publish annual greenhouse gas (GHG) production. This rising demand is valuable to encourage disclosure, but is hindered by the lack of a standard international method of reporting. Acknowledgement of the value of such reports is increasing, but as no …… continue reading >>

Get Adobe Flash playerPlugin by wpburn.com wordpress themes