Last Tuesday, the penultimate FTSE100 AGM of the 2013/14 DRR season was held. Wolseley was untroubled and received votes in favour of 93.6% for its policy report and 98.4% for its implementation report. There is now only one FTSE100 AGM left; Associated British Foods’ AGM will be held this Friday (5 December). Results of all of the DRR votes at the 2013/14 FTSE100 AGMs are shown in our single source document.
In other FTSE100 directors’ remuneration related news, BG Group’s upcoming General Meeting (where shareholders will vote on the proposed share award to the new CEO, Helge Lund (see our previous blog post for more information)), was still making headlines last week. The Telegraph reported that the IMA has issued a “red-top”, the BBC commented on the IoD’s branding of the pay arrangements as “excessive” and “inflammatory”, and the Guardian highlighted Manifest’s call for the GM to be adjourned. However, unless BG Group responds to these reports and opinions in the interim, we will need to wait for the shareholder vote on 15 December to be sure as to how the company’s investors really feel. Watch this space.
We are still awaiting the release of the 2014 DRRs from any of the 30 September year end FTSE100 companies (we are expecting these to be published imminently). A new 2014/15 single source document will provide links when they are, and will continue to be updated as we progress through season two of the new UK DRR regime.
