RBS stakeholders get their wish PDF Print E-mail
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InvestorVoice has polled stakeholders in the Royal Bank of Scotland with regard to which members of the management should be replaced. Following the announcement that the Chairman is to retire at the next AGM, that the Chief Executive is to leave as soon as a proper handover can be achieved and that the Head of Corporate Banking and Markets is to step down from the Board with immediate effect, we publish the Poll results.

Royal Bank of Scotland Poll

Which, if any, of the RBS management should be replaced?

  • Nobody: 3.18%
  • Non-executive Board Members: 7.27%
  • The Chief Executive Officer: 20%
  • The Head of Risk Management: 21.36%
  • The Chairman 21.82%
  • The Head of Corporate Banking and Markets: 26.36%
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a guest said:

I agree that the auditors should take some of the blame. However, they are re-appointed each year at the AGM. Whether it is the accounts (which you could say also includes strategy), the board appointments, the high risk remuneration policies or the re-appointment of the auditors, it is the shareholders who vote on these issues. Individual shareholders tend to be fairly active and voice their concerns. It is the fund managers who control the majority of the votes and they tend to vote blindly with management. They should also be held accountable and bee forced to be transparent in how they vote.
 
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November 11, 2008
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a guest said:

Have we forgotten that the auditors and Reporting accountants, Deloitte & Touche LLP, share a very large part of the blame for the fiasco in which long term shareholders of RBS find themselves. Has no RBS shareholder Action Group been formed and would it not be more prudent for shareholders to put money into a fund to sue Deloitte rather than subscribing for more rights ?
 
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November 10, 2008
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