UK - Investor lobby group Pensions Investment Research Consultants has vowed to monitor corporate governance changes at oil giant Shell.
Following the retirement of group managing director Philip Watts – criticised by investors for the reclassification of a fifth of Shell’s “proven” oil and gas reserves as “probable” in January – the company is planning an overhaul of corporate government arrangements.
In a bid to bolster shareholder support, Shell is considering withholding an £8m pension and more than three million share options from Watts and looking to improve its management structure.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point