L&G Investment Management (LGIM) is to begin voting against the chairs of boards of FTSE 350 companies if they do not have a 25% female representation at board level, as it revealed it voted against 37 board chairs in the UK in 2017 due to the lack of diversity.
In its annual Corporate Governance report, the firm said overall it had increased its votes against management last year, opposing the reappointment of 2,807 company directors and voted against at least...
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Effective 7 January
200 votes in favour
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INDUSTRY VOICE: Consideration of ESG issues does not end when the investment decision is made. Through active engagement and voting, investors and companies work to improve the management of risk and create conditions for long-term outperformance.