Shareholder army mobilises for the AGM Season

With bank bonus season in full swing and the Government pushing for shareholders to hold companies to account over excessive executive pay, intensive preparation is underway for action at the AGMs of Britain's biggest companies.

At a training event this weekend, organised by responsible investment campaigners FairPensions, a group of dedicated ‘shareholder activists' will be picking up the skills required to hold company directors to account at their annual meetings. The activists, who range from pensioners to students, will emerge from the weekend ready to ask tough questions of company boards.

As politicians of all parties and the media continue to talk about the high pay problem, these shareholder activists are preparing to question Remuneration Committee Chairmen and CEOs directly about escalating pay packages.

Catherine Howarth, CEO of FairPensions, is pleased to see such enthusiasm for shareholder action:

"While the political arguments over high pay rumble on, our supporters will be at company AGMs up and down the country speaking directly to company directors whose rewards are a detrimental to pension savers and a huge concern to the general public'

Campaigners at FairPensions are also hoping that scrutiny from shareholder activists will be replicated by institutional investors.

"Our shareholder activists are setting an example to the investor community. All eyes will be on institutional investors this year to see if they use their power to ensure that companies adhere to responsible remuneration practices."

Barrie Stead, a shareholder activist and supporter of FairPensions, said that training is essential before facing companies at their AGMs:

"The FairPensions training teaches you how to take on the directors of large companies and gives you the confidence to get results."