Ferrovial faces backlash over proposed takeover of Australian firm Broadspectrum

Australian human rights campaigners are warning investors of the risks Spanish multinational infrastructure operator, Ferrovial, could face if its takeover bid of Australian firm Broadspectrum is approved. This company  is the Australian government’s lead contractor in the operation of its controversial offshore detention centres (ODCs) in Nauru and Papua New Guinea.… Read the rest

CEO succession planning disclosure needs improvement in the US

US companies who have successfully replaced their chief executives (CEOs) were far more likely to have provided shareholders with more disclosure about their CEO succession plans, according to a study by the Investor Responsibility Research Center Institute (IRRCi). However, these are a minority of companies as the report also found that nearly a quarter of companies that changed CEOs in 2012 did not disclose anything about succession planning in the three years prior to the change.… Read the rest

Easygroup’s Stelios steps in to call Fastjet EGM

Sir Stelios Haji-Ioannou has used Easygroup’s, 12.6% stake in African no-frills airline, Fastjet, to call an extraordinary meeting (EGM) which seeks to remove its chief executive, Ed Winter, and its general counsel and company secretary, Krista Bates.

The EGM resolutions seek Winter’s removal as a director as well as chief executive and for Bates to be removed as a board director.… Read the rest

Institutional investors accused of not doing enough to curb excessive US CEO pay

Leading mutual funds and pension funds so far have taken little action to curb the pay of chief executives (CEOs) in the US according to a report by As You Sow, a non-profit organisation that promotes environmental and social corporate responsibility through shareholder advocacy.… Read the rest