PIRC’s new Shareholder Voting Guidelines 2005, published today reflect the next stage in corporate governance.
“Up to now the issue has been whether companies comply or not. Whilst compliance with best practice remains a key component of corporate accountability, the emphasis today is now firmly on substance and understanding of governance arrangements in practice. This will require transparency and mature dialogue.” says PIRC’s MD, Alan MacDougall.
“With the publication of our shareholder voting guidelines PIRC seeks to lead the market, addressing weaknesses in market practices and the Combined Code,” said MacDougall. “They provide consistency and fairness for our analysis of companies and transparency for clients as to the basis of our voting recommendations. Our goal is to raise standards across the whole market and our Guidelines are key to this task”.
See full Press Release, in pdf format.
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