Financial Times (Letters): Message is muted
“A show of hands at annual meetings on controversial matters such as soaring director remuneration linked with indifferent performances conveys a clear message to boards that is blunted in its absence.”: “… a view that was forcibly expressed at recent annual meetings of BOC and Shell Transport and Trading.”
Saturday 13 August 2005
By Martin E Simons
From Mr Martin E. Simons.
Sir, A show of hands at annual meetings on controversial matters such as soaring director remuneration linked with indifferent performances conveys a clear message to boards that is blunted in its absence. That is particularly so if proceedings are reported by the Financial Times.
It is a significant retrospective step to do away with polls, a view that was forcibly expressed at recent annual meetings of BOC and Shell Transport and Trading. In the absence of a poll shareholders will have a “do-it-yourself” poll, as happened at the last Abbey National annual meeting. Such procedures undermine the standing of directors.
Martin E. Simons,
London SW15 6HJ
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