Please contact Georgeson by email info georgeson. Top 5 shareholder proposal proponents: The report shows that has been characterised by a determination on the part of companies to extend shareholder engagement programmes and adapt to new regulatory environments and heightened investor expectations, he says. Preview the Annual Corporate Governance Review. There is a clear correlation between negative proxy advisor recommendations and lower vote results. Special thanks to our partner Proxy Insight for the coordination of voting data and analytics.
With the government making executive pay a cornerstone of its review of corporate governance and the resultant green paper, this is unlikely to change in the next year. Begin to use its internal Responsible Investment team as one of gorgeson additional sources to analyze environmental and social proposals.
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Preview the 2018 Annual Corporate Governance Review
Across the main European markets, participation levels have remained constant, with the mid-cap indexes in France, the Netherlands, Germany, Italy and Spain having a higher participation than the large-cap indexes. Contact About Geogeson Events Directory. Henry Ker is editor of Governance and Compliance.
During the AGM season the average participation was There is a clear correlation between negative proxy advisor recommendations and lower vote results. While it is no longer surprising to those with experience in shareholder proposals, the report indicates that the majority of proposals in were from individual shareholders 45 from the ever prolific John Chevedden alone70 originated from labor unions and 57 through public pension funds.
Over the past five years the average participation for the FTSE has been steadily increasing and stands 2. We see this phenomenon continuing into and beyond.
Most useful for companies may be the voting results of proposals, which are organized in summary form but also in detail by company, topic and sponsor.
Companies should have at least two women directors on the board. Directors and chairs of nomination committees may find themselves in the firing line if low diversity levels continue on company boards with little evidence of effort to remedy the situation, especially as there are murmurings that some of the leading proxy advisors will be advocating exactly this.
This evolution in engagement is perhaps the overall theme of the report. Despite this, the FTSE AGM results can still act as a useful bellwether for the rest of the listed sector with regards to the trends and areas of contention that company secretaries should be aware of.
Georgeson, the international provider of strategic shareholder services to corporations and shareholder groups, has just published its Proxy Season Review. The tables below showcase voting trends from the proxy season and some comparative year-over-year data and insights.
For instance, across the FTSEthe five remuneration reports with the lowest level of support all received a negative recommendation from the majority of the proxy advisors covered in our analysis. Rowe Price is generally against shareholder proposals on written consent. In the FTSEfive companies each had one board-proposed resolution rejected by shareholders: Top 3 sectors with georgezon proposals voted rebiew at annual meetings: Top 5 shareholder proposal proponents: Discover more Current magazine issue.
Proxy advisors A negative recommendation from a proxy advisor can have a serious adverse impact on the vote outcome of a proposed resolution.
Continuing focus on board diversity. As in previous years, the season continues to extend well beyond four months in spring, with passive investors, who track indexes and cannot sell their holdings, concentrating more on their governance teams and how they exercise their voting rights. The board accepted this recommendation, saying: The full Annual Corporate Governance Review will include a fuller set of data from as well as additional comparative information.
Please contact Georgeson by email info georgeson. Failure to comply or explain non-compliance will cause SSGA to vote against independent board egorgeson.
Proxy review from Georgeson | ISS Magazine
Preview the Annual Corporate Governance Review – Georgeson | Proxy Insight
The Review covers public companies in the UK, France, the Netherlands, Germany and Switzerland; it provides analysis of quorum levels, rejected and contested resolutions, proxy adviser recommendations and corporate governance developments in the five markets, it promises.
The review looks poxy AGM participation levels, rejected and contested resolutions and proxy advisor recommendations. The Annual Corporate Governance Review will feature N-PX research showcasing disclosed voting decisions from large investors on key proxy season proposals. A season in review 02 October by Daniele Vitale. We have seen that executive pay remains a substantial issue in many European markets, alongside increased attention on director elections. It has been an intense annual general meeting AGM season, with an increased focus on diversity and new regulations on the horizon.
Special thanks to our partner Proxy Insight for the coordination of voting data and analytics. During seasob reporting period, Glass Lewis changed its policy on the short notice periods for extraordinary general meetings EGMswhich is proposed by most FTSE companies; since this, the number of its negative recommendations has fallen dramatically.
A negative recommendation from a proxy advisor can have a serious adverse impact on the vote outcome of a proposed resolution.