Submitted on Sunday 7th August 2011
Published on Wednesday 17th August 2011
Current status: Closed
Closed: Friday 17th August 2012
Signatures: 22
Enfranchise those who own shares through funds (eg pension funds)
Ultimate shareholders should be given the votes they have the rights to as shareholders that fundmanagers currently exercise on their behalf.
Currently, those who own shares through funds (necessary for most as they need the fundmanagers expertise) are disenfranchised from voting as shareholders as the fundmanagers get the vote. This is analagous to union leaders voting on behalf of union members (union block vote). Fund managers should have their "block" vote removed from them and be forced to give the option to the ultimate shareholder.
This would improve corporate governance and would break the "Faustian pact" between fundmanagers and corporate management whereby the small shareholder that often ultimately owns the shares has no say. In particular, they could vote down remuneration packages that provide huge rewards for executives of publically owned companies who take huge risks with shareholders funds and employees jobs, but little personal risk themselves.
You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!
18.118.138.145 Thu, 07 Nov 2024 20:51:18 +0000