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French SICAV Proxy Active Investors is crying foul over the high handed dismissal of its proposal to separate the chair and CEO roles at Société Générale. On April 7th 2010, PhiTrust, the managers of Proxy Active, and a group of international institutional shareholders filed a resolution requesting a statue change to split the roles. Although …… continue reading >> A shareholder resolution tabled at BP’s AGM calling for more financial, environmental and social information on the implications of extracting oil sands has managed to achieve 6% of votes in favour. Taking abstentions or votes positively witheld, the company was only able to achieve 85% support for its approach to this controversial exploration scheme. Over 140 institutional investors, including …… continue reading >> The AFL-CIO has released its key votes list for the 2010 proxy season – naming proposals at 27 companies. The key vote survey rates the voting practices of investment managers by surveying how they voted on certain proposals identified by the AFL-CIO as representing a worker-owner view of value, which emphasizes management accountability and …… continue reading >> The prospect of new regulation at the ownership end of corporate governance mechanisms in Europe is beginning to take shape. The new Member of the European Commission responsible for Internal Market and Services, Michel Barnier, has recently been making increasingly clear his views on the future directon of regulation in response to criticism of the …… continue reading >> Euro investor activism at US firms continues International pension funds appear ready to continue to pressure U.S. companies to appoint independent board chairs, a leadership structure now commonly adopted by European boards but still relatively rare in the United States. According to research by Proxy Governance only 25% of U.S. companies now have an independent board chair. In …… continue reading >> “Where were the shareholders?” has not been far from the lips of global regulators, media and the general public over the past two years. While some funds have jibbed at the idea of become more closely involved in the stewardship of their equity assets, two of the UK’s largest pension funds are taking matters …… continue reading >> |
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