Co-operative Insurance Society is calling for all institutional investors to show their hands when i...
Co-operative Insurance Society is calling for all institutional investors to show their hands when it comes to voting in annual general meetings of the companies in which they own stakes.
CIS says this is the only way to end the "excessive secrecy surrounding where corporate meetings exist" and a good way to ensure that institutions fully exercise their voting rights.
The Society also argues that such openness would encourage larger companies by showing them that institutions do not target individual companies, but look to apply best practice on behalf of their own clients.
Corporate governance, environment, and "social performance" are all issues that can be better tackled by revealing the way institutions vote at general meetings, it says, adding that CIS' own voting record is fully available online.
This year marked the first time that institutions could vote on executive remuneration packages in a non-binding way.
The rules have already forced several FTSE company boards to retreat from packages that would have rewarded executive failures with large payoffs in cash and shares.
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