UK pay dissatisfaction trends revealed

An analysis by Manifest of voting trends on the remuneration report since its introduction in 2003 has revealed the FTSE 100 companies with the greatest level of shareholder dissatisfaction, on average, over the period.

The list includes some companies where there has been one very large dissenting vote, but the more interesting …… continue reading >>

In the Pipeline

Shareholders of JD Sports Fashion plc will note a massive 66% salary increase awarded to the executive chairman (from £423k to £700k) when considering the company’s remuneration report. Additionally, the remuneration committee is seeking shareholder approval for the chairman’s proposed cash-based long-term incentive award with a face value of £3.5m. The vesting …… continue reading >>

Monsanto Shareholders Send Message on Pay

S&P 500 constituent Monsanto Company yesterday became one of the first US companies to hold its AGM following the introduction of the new US rules requiring an advisory vote on the remuneration of the directors and an advisory vote on the frequency of such a vote. Shareholders did not follow the management …… continue reading >>

“Excessive” bonuses lead to higher dissent

One of the questions faced by investors when considering say on pay votes is whether the payout is appropriate. While salary may be easily compared against peers, assessing how appropriate the bonus is may not be so straightforward. To try to get a clearer perspective on such a hot topic, Manifest teamed up with Swiss research organisation, …… continue reading >>

Australia’s Future Fund sends a message on pay as more remuneration reports defeated

The Australian Future Fund,  established in 2006 to assist future Australian governments meet the cost of public sector superannuation liabilities, has released its 2009/10 annual report. The report reveals for the first time how the Fund has cast its voting rights at shareholder meetings in Australia, having taken its voting at domestic …… continue reading >>

Centamin Egypt evades AGM remuneration report vote

Centamin Egypt, the Australian incorporated gold mining company which entered the FTSE 250 index in June 2010, will hold its AGM on 9 November in London. At its 2009 AGM the remuneration report vote was defeated, however shareholders will not get an opportunity to vote on the remuneration report in 2010.

The …… continue reading >>

“Healthy tension” best for executive remuneration?

Just what is the most appropriate level of executive pay and what is the best approach to aligning interests between executives and shareholders? This little gem of an extract comes from a submission to Australia’s Productivity Commission made in 2009 by Ian Crichton of CRA Plan Managers, a remuneration consultant, may provide …… continue reading >>

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