Last week, in a speech at a High Pay Commission seminar, the shadow business secretary Chuka Umunna and former Business Secretary Lord Myners both put forward arguments in favour of shareholder nomination committees as a way of improving corporate governance. Rather than the current UK model whereby the Nomination Committee is made up of members of […]
Read MoreWhether it’s a case of “In war, truth is the first casualty” or “Lies, damned lies, and statistics”, sound arguments for reform can easily be undone by the careless use of dodgy data to fit a chosen position. The debate around reform of executive remuneration is in grave danger if the UK government continues to […]
Read MoreOver 140 of the S&P/ASX 200 companies have June year ends and will hold their AGMs between late September and late November. The busiest dates for AGMs are between 24 and 28 October, with 9 & 10 November and 24 & 25 November other busy days in the calendar. Two-Strikes Rule A change to the […]
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Minerva Analytics (Manifest) has been a voluntary signatory of the FRC’s Stewardship Code since its launch in 2010. Our Stewardship Code reporting follows the key Principles of the Code. As a service provider to asset owners and managers, we have answered where we feel our role directly impacts the operation of the Code. As a […]
Read MoreUnderstanding corporate risk has shot to the top of the agenda for ESG-focussed investors in recent months. Under the newly expanded Section C of The UK Corporate Governance Code, boards are explicitly tasked with being responsible for “determining the nature and extent of the significant risks [the board] is willing to take in achieving its […]
Read MoreThe use of underlying profit as an indicator of corporate performance risks misleading investors, according to a recent study conducted by Deloitte. The firm surveyed the 2010 annual reports of 100 publicly listed and other large New Zealand companies, finding that in 92% of the filings, the highlighted underlying profit improved the statutory profit result […]
Read MoreAFSCME, the larges union for public service workers has turned the heat up under mutual funds with the publication of its fifth annual analysis of voting on compensation-related resolutions. “Tipping the Balance? Large Mutual Funds’ Influence upon Executive Compensation,” takes a look at 26 of the largest US mutual fund families’ voting patterns. This year’s report […]
Read MoreThere can be little argument with suggestions that the dynamics of the Remuneration Committee are crucial to ensuring a balanced approach on executive pay issues. Indeed there may be value for shareholders in an amendment to the UK Corporate Governance Code in relation to the diversity of the committee. Many of the worst-performing remuneration committees […]
Read MoreThe US Society of Corporate Secretaries and Governance Professionals (SCSGP) has called for the SEC to regulate proxy advisory agencies “to change certain of their current procedures”, in order to “make the processes and methodologies utilized by the proxy advisory firm more transparent, accountable and reliable”. In a letter to the Secretary of the SEC, […]
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