Ownerless corporations, shareholder committees and the RBS AGM
Monday 21 May 2018
Room P, Portcullis House
Bridge Street, Westminster
London SW1A 2LW
In a 2016 paper for the High Pay Centre, Chris Philp MP argued that listed companies should be required to establish shareholder committees, made up of their largest shareholders. The committee would also include a non-voting worker's representative. It would oversee long-term corporate strategy, culture and purpose, with a remit to ‘get tough on the causes of irresponsible behaviour in big business’ – one of the priorities stated by the Prime Minister when announcing her corporate governance reforms last year.
A version of the committee was listed in the reform proposals as one of three options open to companies for incorporating stakeholder voice into their governance structures. Now ShareSoc, the society for individual shareholders, have succeeded in putting a resolution on the establishment of a shareholder committee at RBS on the agenda at the RBS AGM on May 31st.
This event will bring together investors, policymakers and other stakeholder groups to discuss:
- the case for the shareholder committee resolution ahead of the AGM vote;
- how RBS's unique status offers an opportunity to create a bank that truly serves the public and economic interest;
- and the prospects for shareholder/stakeholder committees in corporate governance more generally.
To reserve a place at this event, please RSVP to Luke Hildyard of the High Pay Centre via firstname.lastname@example.org
Since 1 January 2019 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- How the Shareholder first business model contributes to poverty, inequality and climate change
new briefing from the High Pay Centre and the TUC
- Maximum Pay Ratios
HPC Director Luke Hildyard's essay published by Autonomy and Verso in 'The New Economy Starter Pack'. Why it's time to rethink income, not just at the bottom of the ladder, but at the top too.
- Blog: We have to stop the demonisation of ‘unskilled’ immigration
Policymakers' hero worship of "skilled" immigration has failed - blog by HPC Executive Director, Luke Hildyard for Left Foot Forward