PIRC : independent research and advisory consultancy

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.

Shareholders prepare AGM dressing down for M&S over Rose's role

May 9 2008

Thomson Financial

Shareholders in Marks & Spencer Group Plc. are preparing a resolution which could be voted on at the retailer's annual general meeting in July, chiding the management over its 'significant' corporate governance breach in the appointment of Sir Stuart Rose as chairman.

Corporate governance body Pirc said late on Thursday that it is in the initial stages of drafting a resolution aimed at 'providing a safe outlet for investors wishing to send a strong signal to Marks & Spencer about the value of good governance'.

Pirc said: 'Our intention is that it ensures that the focus is kept on the issue of the separation of powers, rather than the chief executive himself. Our intention is not to micromanage the company, but simply to urge Marks & Spencer to revert to standard market practice as soon as is practically possible.'