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Perspectives on Cyber Risk
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Meetings and proxy advisers
June 13, 2017 4:18 PM |
CSX Corp shareholders approve $84 million reimbursement to retain CEO Hunter Harrison [read more]
June 5, 2017 4:45 PM |
62.2% of Exxon investors have voted for ExxonMobil to publish an annual assessment of the impact of climate policies on its business in face of board opposition [read more]
June 5, 2017 4:40 PM |
Investor proposals filed at Facebook and Alphabet Inc (the parent company of Google) urged the companies to issue a report reviewing the public policy issues associated with fake news [read more]
May 29, 2017 3:04 PM |
MinterEllison partner Alberto Colla has provided some tips for boards in relation to key governance developments: reforming culture and engaging with proxy advisers [read more]
May 29, 2017 2:42 PM |
A climate change resolution was withdrawn from Oil Search’s AGM, on the basis of 'progress made' by the company, while a shareholder proposal relating to human rights failed to pass [read more]
May 22, 2017 4:34 PM |
Investors have approved a shareholder proposal calling for improved climate risk reporting at Occidental Petroleum, the first of its kind to pass in the US. [read more]
May 15, 2017 12:42 PM |
NZX Limited has published its final NZX Corporate Governance Code, its first substantial update since 2003. [read more]
May 15, 2017 12:40 PM |
The Australasian Investor Relations Association has released a draft code aimed at improving engagement between listed companies and proxy advisers. [read more]
May 8, 2017 1:53 PM |
At Santos’ AGM, activist shareholders failed in their bid to request the company to comply with the recommendations of the FSB’s Task Force on Climate-related Financial Disclosures. [read more]
March 13, 2017 1:20 PM |
Norges Bank Investment Management has released details of its responsible investment work in managing Norway's Government Pension Fund Global. [read more]
February 20, 2017 3:28 PM |
A study examining shareholder proposals at 198 ASX 300 companies over 10 years has found that 92% of the 877 proposals concerned the election or removal of directors. [read more]
December 12, 2016 3:21 PM |
The UK Pensions and Lifetime Savings Association has released its AGM season report, arguing that boards and asset managers must do more to address shareholder concerns over CEO pay. [read more]
December 5, 2016 2:52 PM |
The UK government has released its much anticipated Green Paper seeking input on a number of proposed corporate governance reforms, but commentators argue it's a let down. [read more]
November 14, 2016 1:30 PM |
CBA has become the first of the 'big four' banks to receive a strike against its remuneration report, as investors appear to be sending mixed messages on pay structures. [read more]
November 7, 2016 2:18 PM |
The UK Investment Association has made 'key changes' to its Principles of Remuneration to encourage flexibility and calling on companies to take action on levels of pay. [read more]
October 31, 2016 1:53 PM |
The US SEC has proposed controversial reforms to allow shareholders to vote for their preferred combination of board candidates in contested elections. [read more]
September 19, 2016 2:56 PM |
The US Business Roundtable has asserted that 'an increase in shareholder access to the boardroom cannot come without a corresponding increase in shareholder responsibility'. [read more]
September 12, 2016 10:09 AM |
AMP Capital has released its 2016 Mid-year Corporate Governance Report, which sets out its proxy voting highlights and its current engagement themes. [read more]
August 29, 2016 3:10 PM |
ASIC has published its latest report on the regulation of corporate finance issues, among other things noting concerns with prospectus disclosure and giving pointers for the AGM season. [read more]
June 27, 2016 4:02 PM |
Responses to the federal government's paper on technology neutrality in distributing company meeting notices and materials have argued that the proposals should go further. [read more]
June 20, 2016 12:48 PM |
The Federal Court of Australia has considered s 203D(1) of the Corporations Act, finding among other things that it does not provide an exhaustive codification of the mechanism for removal of a director. [read more]
June 14, 2016 2:36 PM |
The Full Federal Court has dismissed ACCR's appeal against the Federal Court's decision that CBA was entitled to exclude certain shareholder resolutions from its notice of AGM. [read more]
May 9, 2016 10:54 AM |
The federal government is seeking feedback on a proposal to modernise methods for companies to distribute meeting notices through principles of 'technology neutrality'. [read more]
May 2, 2016 12:59 PM |
Following a 'first strike' against Woodside's remuneration report, chairman Michael Chaney has noted the 'impossible' challenge of structuring pay to satisfy all shareholders. [read more]
May 2, 2016 12:56 PM |
According to media reports, the UK is experiencing a second 'shareholder spring' as investors continue to protest against executive pay packages. [read more]
April 4, 2016 4:01 PM |
Shareholder activists, short-termism and culture (among other things) have been blamed for the recent events at Valeant Pharmaceuticals. [read more]
March 16, 2016 1:40 PM |
According to As You Sow's 2016 proxy preview, more shareholder proposals filed at US companies relate to climate change than ever before. [read more]
March 9, 2016 1:19 PM |
Rio Tinto's board has endorsed a special resolution requisitioned by shareholders which requires greater disclosure in relation to certain climate change issues. [read more]
March 9, 2016 1:13 PM |
AMP Capital has released its 2015 full year Corporate Governance Report, which discusses AMP's proxy voting over the period as well as its approach to shareholder engagement. [read more]
March 9, 2016 1:09 PM |
AMP Capital has queried whether in setting remuneration boards are giving sufficient weight to the value that a CEO provides (rather than focusing on what their peers are paying). [read more]
March 2, 2016 2:00 PM |
ASIC has published its fourth report on the regulation of corporate finance issues highlighting, among other things, a focus on risk disclosure, poll voting and cyber security. [read more]
February 10, 2016 4:46 PM |
ACSI has reported that two-thirds of companies targeted by a 'global collaborative investor initiative' have moved towards using poll voting instead of the out-dated 'show of hands'. [read more]
November 18, 2015 12:25 PM |
Concern has been expressed that this AGM season some companies are adopting remuneration reports on a show of hands, when proxies held indicate that on a poll the resolution would have received negative votes of 25% or more (ie a strike). [read more]
October 14, 2015 11:46 AM |
Fund managers and analysts have reportedly predicted that strikes and protest votes against remuneration reports will increase this AGM season. [read more]
October 7, 2015 11:36 AM |
AMP Capital has reported on its proxy voting decisions in the 2014/2015 financial year, including in relation to board composition, remuneration reports and share incentive plans. [read more]
October 7, 2015 11:33 AM |
Proxy adviser Institutional Shareholder Services has released the results of its annual global voting policy survey, which includes responses concerning director 'overboarding' and capital allocation. [read more]
August 5, 2015 2:38 PM |
The Federal Court has held that CBA was entitled to exclude from its notice of AGM certain proposals relating to greenhouse gas emissions put forward under s 249N of the Corporations Act. [read more]
July 29, 2015 1:29 PM |
As the US proxy season comes to an end the data shows, among other things, that support of shareholder proposals by proxy adviser ISS does not guarantee success. [read more]
July 15, 2015 5:51 PM |
A new EY report says there are four key takeaways from the US 2015 proxy season: proxy access, investor engagement, activist hedge funds and shareholder proposal. [read more]
July 15, 2015 5:50 PM |
The AFR reports that its research shows 'strikes' against remuneration reports have doubled in the first half of 2015, and contends that the real level of dissatisfaction could be even higher. [read more]
July 8, 2015 1:48 PM |
A recent study of US companies with time-phased voting (where long-term shareholder receive more votes per share than short-term holders) has found that, overall, they significantly outperformed the market as a whole. [read more]
July 8, 2015 1:43 PM |
A single judge of the Supreme Court of Western Australia recently considered issues concerning the power of directors to 'call' a general meeting. [read more]
July 1, 2015 6:12 PM |
An academic study has found that Australia's non-binding vote on remuneration reports has been effective in changing practices, while maintaining the benefits of flexibility. [read more]
June 17, 2015 1:19 PM |
In the US, General Motors' AGM highlights the question of whether annual shareholder meetings are still relevant. [read more]
June 17, 2015 1:17 PM |
The Supreme Court of NSW recently considered the validity of a board meeting in circumstances where a director who was overseas had not been given notice of the meeting. [read more]
June 10, 2015 12:41 PM |
Google investors re-elect directors despite ISS recommendations, Wal-Mart ignores calls for an independent chair and Nabors declines director resignations. [read more]
June 3, 2015 5:36 PM |
ASIC has expanded the scope of its relief that can be granted to insolvent or financially distressed companies and registered schemes in relation to financial reporting and AGMs. [read more]
May 20, 2015 4:49 PM |
Trian Fund Management has failed in its bid to appoint its nominees to DuPont's board, which might inspire other companies to stand up to activists. [read more]
May 20, 2015 4:42 PM |
ASIC Commissioner John Price has reminded companies that chairmen need to take care when deciding to put the remuneration report to a vote on a show of hands. [read more]
May 20, 2015 4:41 PM |
Wintergreen Advisers has warned investors to hold the managers of index equity funds to a 'high standard', particularly in relation to their votes on executive pay. [read more]
May 20, 2015 4:41 PM |
Wintergreen Advisers has warned investors to hold the managers of index equity funds to a 'high standard', particularly in relation to their votes on executive pay. [read more]
May 13, 2015 3:02 PM |
The market continues to debate the pros and cons of founders managing or controlling public companies. [read more]
May 13, 2015 3:00 PM |
The European Parliament's Legal Affairs Committee has narrowly voted to include incentives for long-term shareholders in the new Shareholder Rights Directive. [read more]
May 6, 2015 2:06 PM |
US commentators contend that anti-activist Martin Lipton's advice to companies to engage or even settle with activists is a turning point for shareholder activism. [read more]
May 6, 2015 2:00 PM |
As the northern AGM season gets underway, there is growing sentiment that the current system of executive pay is broken. [read more]
April 29, 2015 5:02 PM |
At BP’s AGM, over 98% of votes cast were in favour of the resolution proposed by the ‘Aiming for A’ shareholder coalition requiring increased disclosure in relation to climate related issues. [read more]
April 29, 2015 4:59 PM |
AGM news from Australia: the Leighton Holdings AGM. [read more]
April 22, 2015 10:33 AM |
French media conglomerate Vivendi has introduced double-voting rights for long-term shareholders, while reaching consensus with US hedge fund P. Schoenfeld Asset Management. [read more]
April 22, 2015 10:30 AM |
The latest developments in US activist investor campaigns. [read more]
April 15, 2015 12:17 PM |
The Governance Institute of Australia has released guidance on how to deal with issues relating to voting, proxy forms and meeting adjournments that may surface during the AGM season. [read more]
April 15, 2015 12:14 PM |
To effectively prepare for potential activist campaigns in any country, a PwC report advises companies to 'put themselves in the shoes of an activist'. [read more]
March 31, 2015 8:58 AM |
ASIC responds to claims that it is hampering activists' efforts to propose a board spill. [read more]
March 18, 2015 2:08 PM |
Computershare report summarises meetings trends, noting that less companies are receiving a 'second strike' on their remuneration reports, online voting is on the rise and attendance is declining. [read more]
March 4, 2015 2:09 PM |
Shareholder activism campaigns in the US. [read more]
March 4, 2015 12:35 PM |
Citigroup announces support for proxy access reforms that, if passed, would allow shareholders to nominate their own candidates for appointment to the board of directors. [read more]
February 18, 2015 8:39 AM |
Senate Economics Legislation Committee releases report discussing submissions on the Corporations Legislation Amendment (Deregulatory and Other Measures) Bill which seeks to abolish the '100 members' rule and indicates its satisfaction with the proposed amendments. [read more]
February 18, 2015 8:37 AM |
Nasdaq report reveals trends in the activism industry, noting exponential growth and a shift in focus. [read more]
February 11, 2015 11:36 AM |
More activist campaigns in the US. [read more]
February 11, 2015 11:33 AM |
Activist campaigns in the US. [read more]
January 19, 2015 9:58 AM |
Activist Nelson Peltz wages proxy war against chemical giant DuPont, asserting underperformance and outdated governance of spinoff. [read more]
December 3, 2014 11:53 AM |
Brickworks to face-off with Perpetual in the Federal Court. [read more]
November 26, 2014 3:17 PM |
Australasian Investor Relations Association urges companies to be proactive in communicating with investors. [read more]
November 26, 2014 9:01 AM |
The Murdoch family retains control of News Corp after a protest vote against the dual-class share structure narrowly loses. [read more]
November 12, 2014 1:20 PM |
The Australian AGM season has shown a marked decrease in major companies receiving strikes against their remuneration reports [read more]
November 12, 2014 12:18 PM |
SCA Property Group makes sweeping changes to its remuneration report and successfully avoids a second strike at the company's AGM. [read more]
October 29, 2014 3:26 PM |
Globe International Limited is set to hold a second board spill meeting as its remuneration report was rejected for the fourth year in a row. [read more]
October 22, 2014 10:15 AM |
Abandonment of the '100 members rule' should save the corporate sector $14.2million annually [read more]
October 22, 2014 10:14 AM |
The contentious 'two-strikes' rule continues to divide opinion among corporate directors [read more]
October 22, 2014 10:13 AM |
Proxy advisers are focusing on board tenure which could unfairly target valuable directors [read more]
October 1, 2014 12:13 PM |
Governance Institute of Australia calls for overhaul of the traditional AGM as shareholder attendance continues to plummet. [read more]
August 13, 2014 11:29 AM |
The world's largest sovereign fund, Norway Pension Fund Global, will reveal its voting intentions prior to corporate meetings. [read more]
August 6, 2014 9:45 AM |
Woodside-Shell selective buyback plan defeated by institutional opposition to the unequal treatment of shareholders. [read more]
June 4, 2014 4:37 PM |
Proxy adviser ISS has recommended that shareholders hold the board of Target Corp (US) accountable for last year's massive cyber attack by voting against most of the directors who are up for re-election. [read more]
March 24, 2014 12:26 PM |
The federal government is reportedly planning to amend the '100-member rule' under s 249N and perhaps s 249D of the Corporations Act as part of its deregulation agenda: Tony Boyd argues it will be 'a loss for retail shareholder. [read more]
March 24, 2014 12:10 PM |
An analysis of Australia's 2013 AGM season by Computershare and Georgeson reveals meeting attendance declined, fewer shareholders voted, the amount of capital voted increased and the uptake of online voting continues to rise. [read more]
December 10, 2013 2:52 PM |
The Securities and Exchange Commission has held a roundtable discussion to determine whether the US proxy adviser industry should be regulated. [read more]
December 6, 2013 2:57 PM |
Some directors are questioning the expertise and role of proxy advisers. [read more]
September 27, 2013 1:50 PM |
American experts argue for the break-up of proxy advisory firms. [read more]
September 12, 2013 11:20 AM |
Boards grapple with how best to present pay numbers in remuneration reports. [read more]