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.

N Brown investors advised to oppose appointments to board

July 1 2008

Daily Telegraph

Shareholders in home shopping group N Brown should vote against the appointment of chairman Lord Alliance of Manchester at the retailer's annual general meeting this week, according to one of the UK's largest shareholder advisory organisations.

PIRC, which advises local authority pension funds and institutional shareholders, is also recommending that investors oppose the approval of the group's accounts and the appointment of two other directors at tomorrow's meeting.

Lord Alliance of Manchester, who owns a 31pc stake in N Brown, cannot be considered independent, PIRC believes.

The shareholder body also argues that a non-executive director, Nigel Alliance, is not independent as he is the brother of the chairman and a significant shareholder in his own right, with an 11.6pc stake in the business.