By Jonathan Williams
“The UK’s responsible investment community has welcomed comments by the country’s incoming prime minister, Theresa May, indicating she would introduce a number of sweeping corporate governance reforms, including a more regular binding vote on pay…
Fergus Moffatt, head of public policy at UKSIF, noted that the UK currently had a binding vote on remuneration every three years, but he welcomed the potential for more regular binding votes.
“It will be crucial to see what the policy is – and to see it fleshed out in more detail, to be put to public consultation with investors, business and civil society,” he said.
May also criticised “transient shareholders”, alluding to the role of asset managers in approving mergers and acquisitions, and stressed that shareholders were not the only ones affected by such transactions.”