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.

Pressure rises on Exxon over chairman role

May 19 2008

Financial Times

Two additional UK investors on Monday joined the Rockefeller family effort to force ExxonMobil, the world’s biggest private oil company, to support an independent chairman.

The announcement concerning Universities Superannuation Scheme, the UK’s third-largest pension fund, and Railpen Investments, the seventh-largest UK pension fund, came one day after four other leading UK investors said they would support the proxy measure to split the functions of Rex Tillerson as chief executive and chairman at Exxon’s annual meeting on May 28.

The Rockefeller family, Exxon’s longest continuous shareholder, has been lobbying Exxon investors worldwide to support efforts for an independent chairman, which they believe is crucial in getting the company to give more weight to alternative energy.

The family on Sunday convinced four other big UK investors – F&C Asset Management of London; Co-operative Insurance Society of Manchester; Morley Fund Management of London; and West Midlands Pension Fund of Wolverhampton – to support its efforts. The UK proxy advisory firm, Pirc, has recommended its clients support the proxy item.