July 26, 2018 / 3:07 PM / 3 months ago

Standard Life Aberdeen calls out peers for AGM no-shows

LONDON (Reuters) - Standard Life Aberdeen (SLA.L), Britain’s biggest listed asset manager, has chided peers for not getting out of their offices and attending the annual general meetings of investee companies in person.

In its second-quarter corporate governance report, Euan Stirling, who heads up stewardship at the company, said it was particularly important to do so when challenging the board.

“We think it is important to attend AGMs where possible. This is particularly the case where we want to hold a board, or specific members of it, to account,” Stirling said.

At the annual general meeting for British housebuilder Persimmon (PSN.L) in April, 48.5 percent of votes cast rejected the company’s remuneration report, but Stirling said he was the only investor to actually attend the meeting.

Reporting by Simon Jessop; editing by Sinead Cruise

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