1. More Shareholders Vote Against Executive Pay Proposals in U.K.

    More Shareholders Vote Against Executive Pay Proposals in U.K.

    More shareholders voted against executive-pay resolutions at U.K. companies this proxy season than last year, and some companies got strong dissent for these resolutions for the second year running. Executive pay was a particularly hot issue at the largest FTSE 100 companies, with 18 companies receiving more than 20% shareholder dissent compared with nine last year, according to a public register managed by the Investment Association, a trade body. ...

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    1. This approach may shed some light on how boards react to concerns from shareholders and, in some cases, it should be clear where [subsequent] board proposals have been amended or impacted by a vote against.
    2. As with all transparency, information in the public domain may in time change behaviors, due to public opinion or, in this case, investor opinion.
    3. We're already seeing more companies making formal statements acknowledging the significant shareholder dissent they've received and outlining how they plan to engage with shareholders.
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