Peter Damgaard Jensen, chief executive of the large Danish pension fund manager PKA has become chairman of the Institutional Investors Group on Climate Change (IIGCC). Jensen took over from Donald McDonald, who has also retired from his post as a BT Pensions trustee director, at the beginning of the year.… Read the rest
Over half of the Sky’s (LON: SKY) independent shareholders rebelled against the election of James Murdoch as a non-executive director at last week’s AGM following his appointment as chairman earlier this year.
Overall Murdoch received 71.6% support for his re-election, the lowest vote in favour of any of the AGM’s resolutions.… Read the rest
In a surprise change of PR last Friday, (26 August 2016) Sports Direct announced that it would hold a public open day to coincide with its AGM on 7th September at its premises in Shirebrook. The event is said to “enable the board to engage with as many people as possible in an open discussion about the business.” In an unprecedented move the AGM is also being opened up to non-shareholders – previous AGMs have previously been tightly restricted to shareholders only with all press excluded.… Read the rest
Understanding the value of a company’s workforce is important for investors, and companies should improve their reporting on this and be able to link this reporting to their wider company strategy and business model, according to the Pensions and Lifetime Savings Association (PLSA).… Read the rest
In sharp contrast to US Republican moves to unwind the Dodd Frank corporate governance reforms introduced after the global financial crisis, the UK’s newly appointed Conservative party leader and soon to be prime minister, Theresa May, has signalled strong support for a progressive corporate governance agenda.… Read the rest
Construction firm, Persimmon, faced significant opposition in the vote to elect Nigel Mills as one their non-executive directors. There was a 47% vote against Mills’ appointment, due to independence concerns, at the company’s AGM last week, one of the slimmest margins for a director appointment for some time.… Read the rest
Railpen veteran, Frank Curtiss, who was most recently been its head of corporate governance, has retired. The pension fund has been at the forefront of active institutional investment and was one of the first to vote actively on its equity holdings in the UK and published a voting and corporate governance policy in 1992.… Read the rest
Paul Druckman, chief executive of the International Integrated Reporting Council (IIRC), will step down this year, although the exact date for his departure will be dependent on the appointment of his successor.
The IIRC said that Druckman would continue to lead on its programme for 2016, including its work as a member of the B20 SME Development Task Force and leading representations to the Financial Stability Board Task Force on Climate-Related Disclosures.… Read the rest
Carolyn Fairburn, Director General of business group, the CBI, said that the issue of diversity needs to run right through companies and has called for a new voluntary target of 25% for female senior executives in major UK companies.
Speaking recently at an event hosted by law firm Latham & Watkins, Fairburn had been asked to speak about women on boards of companies but she argued to achieve more executive directors there needed to be promotion and support of women throughout the company so they were viewed as future leaders of companies.… Read the rest
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