homeintroductionoverviewcreativitycommunicationcontroltrainingbrochure pdfnewsnews archiveislamic bankinginterviewsceo's cvcharitable workphotographsbookshoppublicationsthoughtssearchdisclaimerregistercontact

thoughts unpublished

Fat Cats on The Board?

Get rid of the proxy voting

3 June 2003 2003   Warren Edwardes discussed "Fat cats on the board"
On 3 June 2003 for the BBC2 television programme, Working Lunch, Adrian Chiles interviewed Patricia Hewitt, the UK Government's Trade and Industry Secretary, on the Fat Cat director syndrome - Boards getting substantial payoffs on producing record losses.

Adrian Chiles aired his idea  of only giving only one vote to each shareholder. This sounded great and Patricia Hewitt said it hadn't been suggested before. But on reflection I believe that it would make things - worse without an amendment.

Recall that mutuals such as The Equitable Life and the Nationwide Building Society have one member one vote. But the proxy votes held by the chairmen tend to rule the roost in these situations and mutuals have the least accountability.
So I suggest that in addition to, or instead of, one member one vote - effectively splitting shares into voting and non voting shares with only a single voting share held by any individual person or company - proxy voting should be limited to one proxy vote per person to provide for the infirm and elderly.

Warren Edwardes

Delphi Risk Management: Delphi creativity Delphi communication & Delphi control are the Innovation, Communication & Risk Management arms of Delphi Risk Management Limited 

homeintroductionoverviewcreativitycommunicationcontroltrainingbrochure pdfcontactnewsnews archiveislamic bankinginterviewsceo's cvcharitable workphotographsbookshoppublicationsthoughtssearchdisclaimerregister

If you have reached this page directly from a search engine visit Delphi's full website espaņol