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

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

Real-time Quote. Real-time Tradegate - 08/21 09:46:32 pm
23.213 EUR   +0.06%
01:43pDJTotal Buys Maersk Oil for $4.95 Billion -- 3rd Update
10:17aDJTotal Buys Maersk Oil for $4.95 Billion -- 2nd Update
10:00aDJTotal Buys Maersk Oil for $4.95 Billion -- Update
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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
04:00p ROYAL DUTCH SHELL : Protesters take over Shell flow station
01:43pDJTotal Buys Maersk Oil for $4.95 Billion -- 3rd Update
12:58p ROYAL DUTCH SHELL : Shell considers pumping Cypriot, Israeli gas to Egypt, Bloom..
10:17aDJTotal Buys Maersk Oil for $4.95 Billion -- 2nd Update
10:00aDJTotal Buys Maersk Oil for $4.95 Billion -- Update
08:50a ROYAL DUTCH SHELL : Shell Raises the Alarm over Safety Risks from Illegal Occupa..
08/18 ROYAL DUTCH SHELL : Shell completes SADAF chemicals sale in Saudi Arabia to SABI..
08/18 ROYAL DUTCH SHELL : CCA Louisiana and Conservation Partners to Build Reef in St...
08/17 PILIPINAS SHELL PETROLEUM : Shell profit slides on refinery shutdown, softer oil..
08/17 INPEX : HNZ Group Reports 2017 Second Quarter Results
More news
News from SeekingAlpha
11:58a BLOOMBERG : Shell to consider buying Israeli, Cyprus gas for Egypt plant
09:37a REPORT : Shell loads Libyan oil for first time in five years
08:10a Total deal for Maersk Oil catapults it into uppermost tier of world producers
01:27a Afraid Of The Next Correction? My Strategy And Wish List For The Next Market ..
08/20 HARTSTREET : The USO Will Continue To Struggle As Delaware Core Enhanced Complet..
Financials ($)
Sales 2017 281 324 M
EBIT 2017 21 317 M
Net income 2017 13 785 M
Debt 2017 59 996 M
Yield 2017 6,70%
P/E ratio 2017 15,51
P/E ratio 2018 14,99
EV / Sales 2017 1,02x
EV / Sales 2018 0,95x
Capitalization 226 431 M
Chart ROYAL DUTCH SHELL
Duration : Period :
Royal Dutch Shell Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Technical analysis trends ROYAL DUTCH SHELL
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 30,9 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Ben van Beurden Chief Executive Officer & Executive Director
Charles O. Holliday Chairman
Jessica Uhl Chief Financial Officer
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL-10.72%226 044
PETROCHINA COMPANY LIMITED0.00%205 923
TOTAL-12.46%125 032
STATOIL-8.78%59 613
PETROLEO BRASILEIRO SA PETROBRAS-12.24%57 514
ENI-14.35%56 450