Tag Archives: FTSE100

And so it begins … the 2017 shareholder spring

As we recently reported, 2017 is the year when most FTSE100 companies will be putting their new remuneration policies to a shareholders’ binding vote, against an increasingly hostile background of criticism of the size and complexity of directors’ pay packages. For the early starters in the FTSE100, there have already been casualties.  Imperial Brands withdrew … Continue Reading

Bringing UK “big business” into line: corporate governance reform

As trailed in our recent blog post, the green paper on the reform of corporate governance was published today by the Department for Business, Energy and Industrial Strategy (formerly BIS).  The paper sets out 14 questions for consultation. The consultation covers three main areas: executive pay, “which has grown much faster over the last two … Continue Reading

Culture Club: FRC strengthens link between company values and executive remuneration

The UK Financial Reporting Council (the FRC) has just published a report entitled “Corporate Culture and the Role of Boards”. This is the result of a mammoth project kicked off in early 2015 by a round-table with FTSE100 chairmen.  Content for the report was produced by a survey of 44 chairmen and 33 company secretaries … Continue Reading

Shareholder Spring 2: Rabbit Emerges From The Hat

After weeks of media headlines criticising FTSE 100 executive remuneration, the Investment Association have finally pulled their rabbit from the hat!  The nattily entitled “Executive Remuneration Working Group” set up last year under the auspices of the Investment Association (see our previous blog post) has published its Interim Report (which can be downloaded from the … Continue Reading

Disclose more! Thomas Cook in trouble with investors

At the beginning of the 2016 AGM season, there has been a 25.3% vote against Thomas Cook’s directors’ remuneration report.  In its announcement, the company said “We have already engaged with certain shareholders to discuss their concerns, which relate to the timing of disclosure of EPS targets in respect of the long-term incentive plan and … Continue Reading

FTSE100 AGMs and DRRs – the AGM season so far…

Over 70 FTSE100 companies have now released their DRRs and we are well into the 2015 AGM season. So far, most FTSE100 companies are coming through the AGM season unscathed. In respect of the implementation report (this is the aspect of the directors’ remuneration report that describes how the remuneration committee implemented the company’s approved … Continue Reading

Didn’t they do well? BIS report on compliance with remuneration reporting

The Department for Business Innovation and Skills (BIS) has published a research paper on companies’ compliance with the new directors’ remuneration reporting regulations (DRRRs) in the 2014 AGM season. The research was carried out by Manifest, taking a random sample of 93 UK-incorporated companies listed on the London Stock Exchange.  Thirty-eight of these companies had … Continue Reading

BG Group: Goodbye golden hello

BG Group has responded to the numerous reports and opinions that have surrounded its proposed remuneration package to the new CEO, Helge Lund. Less than 24 hours after our blog post which summarised the concerns, BG Group’s announcement, dated 1 December 2014, sets out revisions to the remuneration package and is stated to follow “extensive … Continue Reading

FTSE100 DRR season – the final curtain

With the release of Associated British Foods’ Directors’ Remuneration Report on 4 November 2014, the final curtain has come down on the 2013-14 FTSE100 DRR season. Whilst we still await the AGMs (and therefore shareholders’ votes on the DRRs) of a handful of FTSE100 companies (namely Smiths Group, BHP Billiton, BSkyB, Wolseley and ABF itself), … Continue Reading

FTSE100 DRRs and AGMs – Don’t believe everything you read in the papers…

The world of executive remuneration enjoyed a brief flurry of activity last week as an AGM was held, an updated version of the Corporate Governance Code was published and the NAPF also published its report on the 2014 FTSE350 AGM season. Despite widespread rumours of a shareholder revolt in the national press, both aspects of … Continue Reading