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When DSM changed its remuneration policy, it broke through the inertia and ambivalence that had gripped its sustainability initiatives.
"When one of Britain's largest companies outside the FTSE 100 is being criticised for its remuneration package, it is a bit squiffy to say the least".
The Sisters of Saint Joseph of Boston, Sisters of Notre Dame de Namur, the Sisters of St Francis of Philadelphia and the Benedictine Sisters of Mt Angel – all investors in the bank – have put their name to a proposal to review its remuneration policies, after it emerged its five most senior employees were collectively awarded $69.5m£43m3m) in pay last year.
The engineering firm Kentz was the first company in the FTSE 350 to have its remuneration policy voted down – it also faced dissent over its remuneration report – while FTSE 100 company Burberry had its pay report voted down.
Mr. Bichsel said the authorities had the right to impose the new terms on any bank if they felt its remuneration policies were leading it to take undue risks.
It will almost certainly be rethinking its remuneration of top executives.
Anglo American has dropped 13p to 734.3p as it confirmed 41.5% of investors voted against its remuneration report.
Last year Berkeley Group saw 8.4% of investors vote against its remuneration report and the year before that it was 10%, not insignificant revolts but not enough to encourage directors to change behaviour.
One which did, the insurer Hiscox, still had a 42% vote against its remuneration policy but this was not enough to block it.
It suffered a shareholder rebellion at its annual meeting over its remuneration report, surely too little too late as a protest?
"Manchester United reviews its remuneration structure on an annual basis".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com