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.

M&S chief wins vote amid protest

July 9 2008

BBC News

Marks and Spencer executive chairman Sir Stuart Rose has won a shareholder vote to reappointment him, even though 22% of investors did not back him.

The level of opposition, with 6% voting against and 16% abstaining, was described as "significant" by critics.

Sir Stuart faced opposition over his role that combines the jobs of both chairman and chief executive.

Critics said combining both roles broke corporate governance rules, as one person had too much power at the firm.

Corporate governance consultants PIRC said the vote "demonstrates the depth of investor unease".

"The vote is a clear signal from M&S shareholders that they have serious reservations about the company's decision to ignore well-established best practice," said PIRC managing director Alan MacDougall.