Tag Archives: DRR

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

No more ABI Guidelines?

Well, not quite.  Following the merger of the investment affairs division of the ABI and the Investment Management Association in June this year we now have the IMA Principles of Remuneration.  So has the new name brought with it significant changes to the expectations of shareholders represented by the newly merged advisory bodies?  Thankfully, the … 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

Why over what, spirit over letter – the NAPF publishes its verdict on the FTSE 350 2014 AGM season

After an eventful 2014 AGM season, the National Association of Pension Funds (NAPF) has published its 2014 AGM Season Report in respect of the FTSE350.  This second annual NAPF Report looks back at the AGM season just gone in advance of the update to the NAPF’s Corporate Governance Policy & Voting Guidelines.  Commenting briefly on … Continue Reading

Softly softly catchee monkey: New provisions under the UK Corporate Governance Code for directors’ remuneration

The Financial Reporting Council announced on 17 September the release of the updated version of the Corporate Governance Code, after its consultation in April about proposed amendments to the sections on remuneration. There has been a good deal of shuffling sentences about, but there are two main changes that will need to be taken into account by companies for … Continue Reading

FTSE100 DRRs and AGMs – our first bloody nose as the March-end AGMs begin

Despite it being only a couple of weeks since the December year-end FTSE100 companies’ AGM season finished (details on the results at that point were contained in our previous blog post), we have now begun the March year-end FTSE100 companies’ AGMs.  Week one saw three FTSE100 companies hold their AGMs, with one of them resulting in our … Continue Reading

FTSE100 DRRs and AGMs – so how is the season really progressing? We analyse the numbers so far

Last week saw the last three AGMs of 31 December year-end FTSE100 companies take place, namely for Coca-Cola HBC, RBS and WPP (and all received at least 80% shareholder approval for both parts of the DRR). There was one other AGM (Tesco, which has a February year-end), and two DRRs were released (by SABMiller and … Continue Reading

FTSE100 DRRs and AGMs – less bite than England’s forwards

Once again, it was an uncontroversial and quiet week in the FTSE100 directors’ remuneration report world. Last week, three March year-end companies published their DRRs and two companies held their AGMs. The three FTSE100 companies that published their DRRs in the week commencing 16 June were: Babcock International Group Johnson Matthey Severn Trent The shareholder … Continue Reading

Sports Direct – a step too far?

The saga of Sport Direct’s attempts to find a long-term in incentive to reward Mike Ashley, its Executive Deputy Chairman, continued yesterday with the announcement of a proposed “2015 Bonus Share Plan”. The Company’s Remuneration Committee have certainly taken on board feedback from shareholders on the previous proposal and have created a fearsome performance requirement. … Continue Reading

FTSE100 DRRs – a week so quiet it was almost silent

The only notable event in the FTSE100 Directors’ Remuneration Reports domain last week was the AGM of Travis Perkins. Its policy and implementation reports were both comfortably approved, with votes in favour of approximately 93.3% and 96.6% respectively. It’s fair to say that the quiet period in DRR issues continues (see last week’s blog post) … Continue Reading

More Marks For FTSE100 DRRs – Top Grades For Most…But Not All

As most sixteen to eighteen year-old British kids get stuck into the most important exams of their lives, how did the FTSE100 companies holding AGMs last week fare as shareholders announced their marks for fourteen Directors’ Remuneration Reports? In truth, this was a mixed week of results. Two companies (Petrofac and Melrose) were given low … Continue Reading

FTSE100 DRRs – Another Shareholder Spring?

There were a further 12 FTSE100 AGMs last week and whilst for most companies both sections of the Directors’ Remuneration Report received a high vote in favour, a couple of companies felt the wrath of shareholders. Reckitt Benckiser Group’s implementation report was only approved by 68.5% of shareholders last Wednesday.  The forward looking policy report … Continue Reading