Total Remuneration Survey 2010 Now Available

Manifest’s annual total remuneration survey, published in association with MM&K is now available. For more information about this essential resource for issuers and investors alike please Click Here >>

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New governance standards for UK companies split investors

New governance standards for UK-listed companies looks set to split investors over the FRC’s proposals that the 350 largest companies should propose all their directors for annual election.

The UK Corporate Governance Code, formerly known as the Combined Code, sets out standards of governance for listed companies.… Read the rest

US Vote Trends for the 2010 Season

Changes to SEC disclosure rules effective Feb. 28, 2010 require US listed companies to disclose the results of their meetings within four business days. This means that we are able to provide an overview of the season in a more-timely manner. … Read the rest

New Institutional Investor Council for UK?

The prospect of a new Stewardship Code appears to have re-ignited fresh enthusiasm for collaborative governance with the Institutional Shareholders Committee (ISC) announcing its intention to form a new body, to be called the Institutional Investor Council. The grand aim of the ISC creating the IIC is to “build a single voice for the institutional investor community and strengthen its profile”.… Read the rest

easyJet founder turns activist shareholder

British boardroom structures don’t allow enough debate, claims Sir Stelios HajiIoannou, founder and majority shareholder of the low-cost carrier, easyJet. As a result he has quit his board role to become an activist shareholder in a bid to turn the company’s strategy around.… Read the rest

AGM turnout holds steady – pay still key issue

While the AGM season is now mostly behind us as far as the biggest European blue chips are concerned, it’s now the turn of the mid-caps to face their shareholders. A quick review of the data so far shows that overall turnout, based on 74 of the top 100 UK meetings is holding steady at 68% (2009: 67%).… Read the rest

US Meeting Spotlight

The proxy season is far from over, writes Allie Monaco, Head of Research at ProxyGovernance. In the last two weeks of May, nearly 170 shareholder proposals will come to a vote at 75 U.S. companies. Of these proposals, 35% relate to social and environmental issues (including climate change, sustainability, and political contributions); 25% deal with takeover defenses (eliminate classified boards, eliminate supermajority vote, allow shareholders to call special meetings); 25% are compensation-related (say on pay, equity retention); and 15% are on board-related matters (majority vote to elect directors, appoint independent board chairs).… Read the rest

US Say on Pay debate rumbles on

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.
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Voting failures hit the High Street

So it’s not just shareholder meetings that have voting problems. The UK’s general election collapsed into the realms of farce this week with disenfranchised voters complaining of lost ballot cards, out of date voting registers and exclusion from polling stations – now where have we heard those complaints before?… Read the rest

The vote for audit quality

Next week’s vote on the appointment of KPMG plc at Rentokil (15 May) looks to be more than usually interesting. While the cut price deal struck by KPMG offers a 30% headline discount, concerned investors are questioning the real hidden costs of blurring lines of accountability to management on the one hand and the real audit client – shareholders.… Read the rest