Tag: PIRC

News round-up: this week in governance
Listed companies’ audit fees rocket; billionaire gives boost to sustainability directive; Sir Jon Thompson joins Frasers Group.

Audit reform is essential to restore faith in the UK
When it comes to understanding what attracts investors to a capital market, the London Stock Exchange has got it wrong.

Shell climate plan ruling holds lessons for investors
Judge in court action brought by Dutch activists described Shell climate plan as “rather intangible, undefined and non-binding”.

Shell ‘say on climate’ vote set to fuel further campaigns
While 89% voted in favour of the energy giant’s climate action plan, a separate resolution saw 30% demand more ambitious targets.

Auditors on notice to reject ‘expectations gap’ consultation
Advisory body PIRC considers recommending shareholders vote against auditors if they fail to “publicly repudiate” the consultation document.

Top proxy advisers sign up to new code of practice
Glass Lewis, ISS, Manifest, Proxinvest and Pirc agree to abide by new principles that sees them reveal policies for managing potential conflicts of interest.

Whitbread’s demerger pay plan under fire from investor advisors
Investors are advised to oppose a remuneration policy at Whitbread designed to incentivise its demerger from Costa Coffee.

Shareholder body advises against reappointment of Coca-Cola HBC chair
Shareholder advisory group PIRC says the drinks company’s current chairman can not be considered independent.

Regulator seeks audit market probe into Big Four domination
The chief executive of the Financial Reporting Council has begun meetings with the competition regulator to discuss a new investigation of the market for big audit contracts.

London Stock Exchange chairman Donald Brydon likely to remain in post
London Stock Exchange chairman Donald Brydon is likely to survive a shareholder vote tomorrow, despite demands to oust him over the departure of chief executive Xavier Rolet.