Proxy adviser behind negative votes at Fletcher AGM
Prevalence of passive funds using proxy advisers becoming a concern, says fund manager.
Prevalence of passive funds using proxy advisers becoming a concern, says fund manager.
Advice from an Australian proxy adviser was behind a significant shareholder vote against Fletcher Building chair Bruce Hassall and director Barbara Chapman at the company’s annual meeting this week.
Although both were re-elected, Chapman received a negative vote of 27.6% and Hassall
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