Investor groups call for UK firms to provide a virtual AGM

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FILE PHOTO: Canary Wharf is seen with the O2 arena, illuminated blue in support of NHS and other key workers as the number of coronavirus cases increases globally, London, Britain, April 2, 2020. REUTERS/Paul Childs

LONDON (Reuters) – Britain’s biggest listed companies have been urged to hold ‘virtual’ annual general meetings after two-thirds of the firms to announce meetings so far opted to hold them behind closed doors because of COVID-19.

In a letter to the boards of FTSE 100 companies, campaign group ShareAction said it was concerned the move would deny shareholders a chance to directly question management on

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Rebel Sherborne to withhold vote against Barclays boss in AGM

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FILE PHOTO: Barclays’ CEO Jes Staley arrives at 10 Downing Street in London, Britain January 11, 2018. REUTERS/Peter Nicholls/fILE pHOTO

LONDON (Reuters) – Sherborne Investors (SIGC.L) said on Thursday it would withhold its vote against Barclays (BARC.L) Chief Executive Jes Staley in the lender’s upcoming general meeting, to prevent fresh boardroom turmoil as the bank grapples with the COVID 19 fallout.

The rebel shareholder said it still believed Staley “to be unsuitable to continue” as a director of the bank but it had chosen “with great reluctance” not to vote against him in recognition of the

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Proxy adviser ISS backs Credit Suisse AGM proposals

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FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – Proxy adviser ISS has backed Credit Suisse’s (CSGN.S) proposals for its annual general meeting on April 30, recommending shareholders vote in favour of the group’s pay proposals and approve the performance of its leadership.

The ISS recommendations, seen by Reuters, come as a boost for the Swiss bank after Glass Lewis advised shareholders to deny its leadership a discharge following a spying scandal that cost ex-boss Tidjane Thiam his job.

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Proxy advisers split over endorsing Bayer management at AGM

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FRANKFURT (Reuters) – Shareholder advisory groups are divided over whether to endorse the management and directors at German drugs and pesticides company Bayer (BAYGn.DE), according to recommendations submitted by proxy voting firms.

FILE PHOTO: The logo of Bayer AG is seen in a showroom of the German drugmaker where the annual results news conference takes place in Leverkusen, Germany February 27, 2020. REUTERS/Wolfgang Rattay/File Photo

Bayer is due to host its annual general meeting on April 28 but the company still faces potentially huge litigation risks stemming from its $63 billion purchase of Monsanto in 2018.

One leading

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