European Responsible Investment Network is formed

A new Civil Society Organisation (CSO), the European Responsible Investment Network (ERIN), was launched last week at a conference in Berlin. The network is made up of 25 organisations from Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Switzerland and the UK.… Read the rest

Groups call for more radical thinking on executive pay

More radical solutions to rising executive pay need to be found than those proposed by the Investment Association’s Executive Remuneration Working Group in its recent interim report, according to the Institute of Business Ethics (IBE) and the High Pay Centre.… Read the rest

WPP’s remuneration vote passes – with higher dissent

Despite public calls for pension funds to vote against WPP’s remuneration report at its AGM this week (8th June) the resolution was passed with 33.5% dissent – higher than 2015’s 22.2% protest vote.

ShareAction had condemned the chief executive’s (CEO) Sir Martin Sorrell’s £70m pay packet, which makes him the highest paid CEO in the FTSE 100.… Read the rest

Board Effectiveness: What is POOR, OKAY, GOOD or EXCELLENT?

Does anyone know? Not yet. But, by the end of this month, the ethics think tank Responsible 100 believes it will have a better idea.

The problem Responsible 100 seeks to solve is the credibility deficit endured by businesses which claim to be ethical, sustainable, responsible or values-driven.… Read the rest

Missing human capital data means annual reports are not providing a clear picture of the business, report states

Around a third (30%) of FTSE 100 companies are withholding relevant information from their annual reports and painting an inaccurate picture of opportunity and risk, according to a research report from the Valuing Your Talent partnership which includes The Chartered Institute of Management Accountants (CIMA), the CIPD, the professional body for HR and people development, and the Chartered Management Institute (CMI).… Read the rest

US remuneration committee chairs get less support after losing say on pay votes, study finds

Executive pay firm, Semler Brossey, has analysed the relationship between the shareholder support given in elections of remuneration committee members and chairs and the result of the say on pay votes at US company AGMs.

The study of director election results between 2014 and 2016 found that over 80% of director elections have received vote support above 95% and only 0.3% of elections have failed to receive majority support (107 out of 42,499 total elections).… Read the rest

New York City pension funds proxy access campaign success

US investors passed the first shareholder resolution in a decade at ExxonMobil when they voted to back the proxy access resolution at its recent AGM. The non-binding resolution called for the oil company to give investors that have jointly held at least 3% of its common stock for at least three years the ability to nominate directors using the corporate ballot.… Read the rest

Criticisms of BHS governance continues as administrators fail to find buyers

As inquiries continue into the retailer BHS – focusing on its sale last year and its large pension fund deficit – its administrators, Philip Duffy and Benjamin Wiles, managing directors at Duff & Phelps, announced that it had been unable to find a buyer for the business and it would be wound down and its 163 stores would close.… Read the rest