This Minerva briefing on Executive Pensions in the UK 2019 looks at the issue of pension fairness in the FTSE 100. It examines developments in executive preferential pension and details how companies in the FTSE 100 have been responding to the issue in remuneration policy renewals. Remuneration fairness Very few investors doubt that the need […]
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Board evaluation: new research identifies opacity and market concentration concerns Board evaluation, if done correctly, provides a vital tool for directors to strengthen board effectiveness. It provides an opportunity for boards to review its skills and experience; its composition and processes; and its activities and behaviours. Whether conducted internally or externally, regular board evaluations is […]
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Board effectiveness and the role of evaluation in supporting good governance has resulted in increased attention from regulators, investors and other stakeholders. Institutional investors are increasingly expecting boards to undertake evaluation. For example, the International Corporate Governance Network’s Global Governance Principles expects boards should “conduct an objective board evaluation on a regular basis, consistently seeking […]
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Capital governance is a critical shareholder protection. Capital authority requests are routine agenda items at shareholder meetings in the UK and relate to: • The authority to issue shares with pre-emption rights; • The authority to issue shares without pre-emption rights; and • The authority to conduct share buybacks. This Minerva Analytics Briefing looks at […]
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Recent changes to the UK Governance Code have put board chair tenure into the spotlight. This Briefing looks at the impact of the changes in respect of the top 350 identifying the number of companies with a chair who has been on the board and/or in the role of chair for a period approaching nine […]
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Applied Graphene Materials: compliance with codes is not the same as meeting investors’ expectations
AIM-listed Applied Graphene Materials holds its AGM on 18 December 2018 and with the elevated awareness of AIM governance standards, it’s worth taking a look at AGM’s AGM disclosures to better understand the differences between what’s expect of main and junior market companies. Good governance disclosures and financial reporting support open and effective dialogue between […]
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Since November 2016, the UK has been investigating three key pillars of governance reform focussed on executive pay; the governance of large private companies and strengthening the voice of employees and stakeholders. Two years on, US Senator Elizabeth Warren has proposed a bill “The Accountable Capitalism Act” which, if passed, would enable up to 40% […]
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Minerva’s stewardship support team has reviewed the new investor guidelines of the Investment Association in the context of Minerva’s current Say on Pay research reports, ratings and voting guidelines to identify the potential impact of the proposals. The UK’s main investor body, the Investment Association hosted in November 2018 a public Stewardship and Governance conference […]
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Although the European Commission and member states began to address board gender diversity since 2012, progress towards the suggested 40% target has been mixed. From an investors’ perspective, although high-level legislative steps have been taken to improve board diversity, due to the way each country has chosen to implement the recommendations, there is considerable variety […]
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UK Governance Watch At AIM-listed infrastructure group Hargreaves Services’ 2017 AGM around 20% of shareholders opposed the adoption of its remuneration report. Shareholders likely held concerns with the level of disclosures provided in the report regarding performance targets and the lack of director shareholding guidelines and clawback provisions. The disclosures on these policy aspects continue […]
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