June 14, 2017 / 2:17 PM / 9 months ago

Shareholder advisor ISS changes recommendations on Petropavlovsk board nominees

LONDON, June 14 (Reuters) - Shareholder advisory group ISS on Wednesday changed its recommendation ahead of Petropavlovsk’s annual general meeting next week, saying shareholders should oppose the reappointment of Peter Hambro, who has led the company for decades.

It had previously recommended rejecting changes proposed by dissident shareholders.

“We have changed our vote recommendations and now support the election of two of the dissident nominees. We also recommend a vote against the re-election of former executive chairman Peter Hambro,” ISS said in a report on Wednesday.

Reporting by Carolyn Cohn and Barbara Lewis

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