Quote by Patrick Donovan
The City's reluctance to take a stand on an issue like the British Gas pay row makes a mockery of corporate governance and shareholders' ability to influence annual general meetings. Institutions should be obliged to make public how they vote at such events. They should be obliged to provide customers with a record of how they vote on every kind of issue.
Summary
This quote highlights the disappointment with how the City (referring to the financial sector in London) avoids taking a clear position on controversial matters such as the British Gas pay row. It suggests that by doing so, corporate governance principles are undermined and the power of shareholders to influence annual general meetings becomes a mockery. The quote argues that institutions should be obligated to make their votes public at such events and provide customers with a transparent record of their voting decisions on various issues. This would promote accountability and allow stakeholders to evaluate the actions of these institutions.
Topics
Business
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