Trio of AssetCo directors face proxy voter pressure over lack of diversity and independence

Five AGM proposals challenged

AssetCo shareholders have been urged to vote against Martin Gilbert’s re-election as executive chair of the company over the board's lack of diversity, with a further four AGM proposals challenged.

Proxy adviser Glass Lewis recommended shareholders vote against his re-election, as well as that of Tudor Davies and Christopher Mills, arguing the board lacks gender diversity and independence. They highlighted the financial interests of Davies and Mills, noting Davies controls a firm which has received £91,000 for consulting services from the firm, while Mills sits as CEO at Harwood Capital, the largest shareholder of AssetCo, with a 14.5% stake.  AssetCo losses triple to £26.7m in 'exceptionally difficult' year The firm also took aim at Gilbert's role in the business, arguing he...