Live: The spring of shareholder discontent – Weir Group sees renumeration policy struck out, with only 27.6 voting in favour April 28, 2016 It's springtime, but executives may have felt a chill in the air as they headed off to their companies' AGMs this morning. Hermes Investment Management has said that it opposes the appointment of former chief executive Michael Dobson to the role of chairman at Schroders, remarking that such a move would undermine corporate governance. Although the measure [...]
Not so much revolution as boardroom evolution April 28, 2016 We may not be in the throes of a full-on shareholder spring – as happened back in 2012 – but investors are definitely flexing their muscles. They railed against generous executive pay packages at BP and Anglo American (with 59 per cent and 42 per cent rejecting the remuneration deals, respectively), while smaller double-digit rebellions have [...]
Reckitt Benckiser avoids a headache after posting “good” first quarter results April 18, 2016 British consumer giant RB has posted "good" first quarter results despite warning of a "tough" macroeconomic environment in early 2016. The figures The FTSE 100 company, formerly known as Reckitt Benckiser, reported slightly better-than-expected quarterly sales growth. Like-for-like sales grew five per cent, marginally beating analyst expectations of 4.9 per cent, while sales grew four per cent on an actual basis to [...]
Executive pay: BP pay gusher reignites shareholder rows, but new research shows that average pay growth for chief executives has slowed down to below national average April 13, 2016 BP shareholders will vote on a near $20m pay package for the oil major's chief executive tomorrow, reigniting the row over boardoom pay despite greater restraint being shown by many FTSE companies. The pay deal, if approved, would see BP chief executive Bob Dudley take home $19.6m (£13.8m) – a hefty 19.7 per cent pay [...]
Pay of Reckitt Benckiser chief executive doubles after share price rise pushes up value of stock options April 4, 2016 The pay of consumer goods giant Reckitt Benckiser's chief executive has doubled in the past year to a whopping £23m, after the firm's share price boosted the value of his stock options. The swelling pay packet makes CEO Rakesh Kapoor one of the best paid chief executives in the FTSE 100, though even his £23m haul pales in comparison to [...]
City Moves for 16 March 2016 | Who’s switching jobs March 16, 2016 Weetabix Gavin Loftus has joined Weetabix Food Company to take up the new position of head of brand of Weetabix On The Go. Gavin joins from Jordans and Ryvita, where he held the position of cereals marketing controller. Before joining Jordans and Ryvita, Gavin was at Reckitt Benckiser, Diageo and Nestle Waters, giving him more than [...]
Facebook is biggest new TV advertiser as total ad spend passes record £5bn February 23, 2016 Facebook was the biggest spending new advertiser on British television last year as total spend hit record levels. Spending on TV advertising – from traditional 30 second spots to sponsorship, on-demand catch up platforms and product placement – hit £5.27bn in 2015, a rise of 7.4 per cent on the previous year and growth not seen since the end of the financial crisis. [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]
Reckitt Benckiser’s share price soars on better-than-expected full-year results February 15, 2016 Reckitt Benckiser's share price soared more than six per cent in early trading, after the consumer goods company unveiled better-than-expected full-year results. The FTSE 100 firm today posted a five per cent increase in sales to £8.87bn over the year, thanks to a particularly strong performance in its consumer health division, which includes brands such as [...]
Three Lions and a Dog: Otherwise known as three great British companies you can’t buy and one (GSK) you don’t want to February 10, 2016 As England gears up for Euro 2016, four British companies stand out in the investment field: three lions and a dog. Unlike the lions on the football team’s shirts, these firms are global sector leaders with excellent and defendable competitive positions, good growth prospects and a high intrinsic value. Sadly, they cannot be bought on the stock market. [...]