PIRC is the UKs' leading independent research and advisory consultancy
providing services to institutional investors on corporate governance and
corporate social responsibility. Since 1986, it has been the pioneer and
champion of good corporate governance within the UK.
Authoritative resource
PIRC has a wide spectrum of clients ranging from pension funds,
faith-based investors, trade unions to banks and asset managers. Its
Corporate Governance Service is an authoritative and vital resource for
active investors, whilst its widely-read
Shareholder Voting Guidelines
provide a market-wide benchmark for investors and forms part of the
movement for corporate governance reform and long-term wealth creation
strategies for responsible investors.
For more information about PIRC or to arrange a meeting, contact Janice Hayward, or call us on 0207 247 2323.
Smith & Nephew sees big vote
against remuneration report
Medical equipment company Smith & Nephew
saw a large vote against its remuneration report
at its AGM last week. Around 32% of votes were
cast against the remuneration report, with
almost 7% abstentions. PIRC had
recommended that shareholders oppose the
report. This was in part due to termination
provisions, but also because Smith & Nephew
had changed the performance measures and
targets under the Performance Share Plan
without seeking shareholder approval.
Full story . . .
Squabble over bank pay
Last week saw a bit of squabble between the
City and the Bank of England over whether high
pay in the banking sector is a problem or not.
Bank Governor Mervyn King kicked things off
when he told the Treasury Select Committee
last week the way that remuneration was
structured had encouraged excessive risktaking.
Full story . . .
Aflac passes first pay vote test
Aflac has seen its executive compensation
policy win widespread shareholder approval,
becoming the first US company to allow a socalled
‘say on pay’. According to reports, 93% of
votes were cast in favour of Alfac’s policy, with
about 2.5% against. PIRC had recommended
that shareholders oppose the policy.
An increasing number of US companies
Full story . . .