Wednesday 30 October 2013

Keep an eye on Oracle

I blogged previously about the forthcoming showdown at Oracle (AGM tomorrow). I think this could turn into a bloodbath.

There's an interesting joint statement from CalSTRS, PGGM and Railpen here. They are going for the whole board, as well as the exec pay policy.
 we consider it is in the best interests of our beneficiaries to withhold support from all nominees to the Board at the 2013 annual shareholder’ meeting. Consistent with this view, we further consider that it is in the best interests of our beneficiaries to support the shareholder proposal seeking the appointment of an independent Chairman to the Board and to vote against the advisory vote on pay.
I wouldn't bet against the company losing the 'say on pay' vote AND seeing some directors fail to get a majority vote in favour.

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