Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell A    RDSA   GB00B03MLX29

Delayed Quote. Delayed  - 08/23 05:39:59 pm
22.165 EUR   +0.02%
08/23 ROYAL DUTCH SHE : County officials ask how to cash in on cracker pla..
08/23 ROYAL DUTCH SHE : Rethinking NNPC’s Oil Search in the North
08/23 SERICA ENERGY : Shell Warns Serica Of Delays In Restarting Erksine F..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Incoming Aviva Chairman To Meet Holders, Discuss Pay - Source

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/04/2012 | 03:27pm CEST

-- John McFarlane will start meetings even before official start date as chairman

-- Major shareholders to be met "over a number of weeks"

-- A top shareholder says rejection of pay report reflects dismay over drop in share price

 
  By Vladimir Guevarra 
  Of  
 

John McFarlane, the incoming chairman of Aviva PLC (AV.LN), is scheduled to begin meeting the U.K. insurer's top shareholders even before his term officially starts in his role, in a move that could help improve ties after investors rejected the company's 2011 pay report in Thursday's annual meeting.

"John McFarlane will start meeting institutional shareholders before he becomes chairman on July 1...It's likely for them to discuss growth strategy and compensation to executives since that has been a very important topic recently," a person familiar with the situation told Dow Jones Newswires.

McFarlane, who will take over the post from Colin Sharman, is expected to meet "all of Aviva's major shareholders over a number of weeks," the person said without saying exactly how many will be met over what period of time.

The planned meetings come after 54% of votes cast in the AGM were in opposition to Aviva's remuneration report.

The rebuke on its executive pay policy comes amid an increasing and more vociferous backlash against what many consider excessive executive pay in the financial sector, as investors find it hard to accept rising salaries and bonuses in the face of declining share prices.

The nonbinding vote makes Aviva only the fourth FTSE 100 company in U.K. corporate history to have its pay report rejected, after similar defeats in previous years by Royal Bank of Scotland Group PLC (>> Royal Bank of Scotland Group plc), GlaxoSmithKline PLC (>> GlaxoSmithKline plc) and Royal Dutch Shell PLC (>> Royal Dutch Shell plc).

One angry shareholder at the AGM complained about the 60% fall in share price since a peak in 2007 and asked Chief Executive Andrew Moss and members of the remuneration committee to resign.

Over the past year, Aviva shares have fallen some 32%.

Chairman Sharman then said: "I'm a shareholder, and I'm also not happy about the share price...But let's not forget that since then, we were also affected by the global financial crisis and the current European sovereign debt crisis. I can't take responsibility for those."

A spokesman for one of Aviva's top 20 investors told Dow Jones Newswires: "We look forward to the new chairman meeting us face-to-face."

He said the vote Thursday is "more a reflection of the share-price movement over the last 12-18 months than anything else."

"The role of the new chairman is to canvass opinion among shareholders on executive pay, among other things. This is our opportunity to speak with him," he said, adding that his firm wants to see the chairman "have a more active role in remuneration."

"Good companies keep their shareholders close. Regular meetings and open dialogue are what's needed," he said.

During the AGM, Scott Wheway, head of Aviva's remuneration committee, said: "I would like to apologize to any shareholder that feels their views have not been adequately represented in the decisions we have made."

Wheway said his committee will talk to shareholders about changes in pay policy, including bonuses and pay being given when recruiting new executives.

He also indicated that even retail shareholders may have their voices heard. "It is indeed easier to talk to larger institutional investors one by one, but we will try to make sure there are feedback mechanisms so that every voice is heard," he said.

At 1300 GMT, Aviva shares were down 1.6% at 306 pence, while the FTSE 100 index was down 1.1%.

- By Vladimir Guevarra, Dow Jones Newswires. Tel. +44 (0) 2078429486, vladimir.guevarra@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ROYAL DUTCH SHELL A
08/23 ROYAL DUTCH SHELL A : County officials ask how to cash in on cracker plant
08/23 ROYAL DUTCH SHELL A : Rethinking NNPC’s Oil Search in the North
08/23 SERICA ENERGY : Shell Warns Serica Of Delays In Restarting Erksine Field Offshor..
08/22 ROYAL DUTCH SHELL A : Shell profits tumble by 72% amid low oil and gas prices
08/18 ROYAL DUTCH SHELL A : plc second quarter 2016 scrip dividend programme reference..
08/17 ROYAL DUTCH SHELL A : Filter Coalescers & Heat Exchangers for Zohr Development P..
08/17 ROYAL DUTCH SHELL A : Again, Buhari orders NNPC to search for oil in North
08/17 ROYAL DUTCH SHELL A : Again, Buhari orders NNPC to search for oil in North
08/17 ROYAL DUTCH SHELL A : Shell Emerges Best Exhibitor At 2016 SPE Conference
08/17 ROYAL DUTCH SHELL A : Shell subsidiary to build three-state, 94-mile ethane pipe..
More news
Sector news : Oil & Gas Refining and Marketing - NEC
08/23DJOil Pipeline Project to Remain Stalled at Missouri River
08/23DJOil Pipeline Project to Remain Stalled at Missouri River
08/23DJAnbang Insurance Plans IPO of Life-Insurance Unit
08/23 BP : unit selling up to $261 million stake in Castrol India - termsheet
08/23 India's Idea Cellular denies report on merger talks with Vodafone
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
08/23 The Real Reason Oil Prices Just Fell
08/23 Royal Dutch Shell Looks To 'Transform' Soon
08/23 Iraq asks foreign companies to raise oil production and exports
08/22 REUTERS : Partial restart of Motiva Convent hydrocracker seen by year-end
08/18 THE RISK SANDWICH : Why I Have Been Selling Down My Oil Major Holdings
Advertisement
Financials ($)
Sales 2016 230 666 M
EBIT 2016 13 689 M
Net income 2016 7 879 M
Debt 2016 64 701 M
Yield 2016 7,40%
P/E ratio 2016 18,58
P/E ratio 2017 10,42
EV / Sales 2016 1,17x
EV / Sales 2017 0,94x
Capitalization 205 227 M
More Financials
Chart ROYAL DUTCH SHELL A
Duration : Period :
Royal Dutch Shell A Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Full-screen chart
Technical analysis trends ROYAL DUTCH SHELL A
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 30,7 $
Spread / Average Target 23%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ben van Beurden Chief Executive Officer & Executive Director
Charles Holliday Chairman
Simon P. Henry Chief Financial Officer & Executive Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL A5.05%205 227
EXXON MOBIL CORPORATIO..12.53%364 864
BP PLC22.70%105 083
CHINA PETROLEUM & CHEM..-0.40%89 493
SAUDI BASIC INDUSTRIES..--.--%67 014
RELIANCE INDUSTRIES LI..-0.03%48 919
More Results