Schroders is set to see a number of shareholders vote against the move of former CEO Michael Dobson to the chairman role at its annual meeting on 28 April, according to a report.
The firm is likely to face a shareholder revolt later this month, as a significant number of shareholders vote against the move, according to The Times. Concerns have been raised that the move from CEO to chairman flouts the UK code of corporate governance. This recommends CEOs should not be moved up to chairman positions except under exceptional circumstances to ensure board independence. One of the group's top ten shareholders said condoning Dobson's (pictured) promotion could open the industry up to accusations of there being "one rule for one and one rule for others", according t...
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