UK - Four shareholder meetings are worthy of note in the week starting January 14, according to corporate governance specialists Institutional Shareholder Services (ISS).
Publisher Euromoney holds its AGM on January 23. ISS says Euromoney's chairman and managing director have two year rolling service contracts, exceeding the Combined Code's recommended one-year limit. The majority of the board’s non-executive directors are not independent, the audit and remuneration committees each comprise only one independent non-executive director, and the board has not identified a senior non-executive director.
M&G Investment Management holds 4.8% of Euromoney’s issued stock, Invesco 2.9% and UBS 2.1%.
At its AGM on January 23 software and computer services firm RM seeks shareholder approval for its remuneration policy. Fidelity is the company’s largest shareholder with 7.7% of the issued stock. Standard Life Investment Management has 5.5% and Chase 5.1%.
Engineering firm Howle holds its AGM on January 24. The roles of chairman and chief executive are combined at Howle. 3i Asset Management controls more than a fifth of the company.
Leisure firm On-line holds its AGM January 24. ISS says the company combines the roles of chairman and managing director. Northern Trust holds 2.6% of the stock and UBS 1.6%.
By Luke Clancy
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers