Compliance Week Podcasts …

This week’s podcast features Scott Landau of the law firm Pillsbury Winthrop Shaw talking about how to craft effective, practical clawback policies for executive compensation agreements. Hear the podcast now.

… and Compliance Week on Twitter!

You can also follow Compliance Week Editor Matt Kelly on Twitter, for the latest regulatory observations and updates. More than 2,000 followers and ranked the most influential Twitter feed on compliance!

Compliance Week LinkedIn Group

Visit the Compliance Week has a companion group on LinkedIn, where members can network and discuss the compliance and governance news of the day among themselves. Open to all, free to join.

Global Integrity Survey

2009 Global Integrity Survey
Download the findings of the 2009 Global Integrity Survey, compiled by Compliance Week and sponsored by Integrity Interactive.

Help Wanted: Ad of the Week

Manager, DBE and ACDBE Compliance
Submitted by Massport

Thought Leaderships of the Week

Year Two of SEC’s XBRL Mandate
Courtesy of Clarity Systems

Survey: Companies Not Actively Addressing Risk
Courtesy of Crowe Horwath

The Resource Exchange

Sample Risk Acceptance Request
Submitted by Circuit City

Risk Inventory
Submitted by Cognizant Technology

Featured Databases

Sustainability Reports
Corp. Sustainability, Global Citizenship Reports

Codes of Business Conduct
Search 1,000+ Mission/Conduct Statements

GRC Illustrated Series

The IFRS Ripple Effect
The 23rd Installment in This Exclusive Series

Enforcement Action

RSS
“Enforcement Action” is written by Bruce Carton, a former senior counsel in the SEC's Division of Enforcement. A “blawg pioneer” (according to The Wall Street Journal), Carton was the creator of Securities Litigation Watch, a blog that he wrote for more than three years while he was vice president of ISS' Securities Class Action Services. He is now editor of Securities Docket, an online publication that tracks securities litigation and enforcement developments on a global basis. Carton welcomes questions, comments and statements from readers on enforcement and litigation issues; he can be reached via email at BCarton@complianceweek.com.

 

May 13, 2009

Euro-Shareholder Trend: Throwing Stuff at Board Members

When Flemish shareholders of Fortis revolted at a heated meeting in Ghent, Belgium last month by throwing shoes, coins and even ballot boxes at Fortis board members, I was willing to dismiss it as an isolated incident. (See the video below!)

After today’s developments in Dublin, Ireland, however, I think it is time to declare a new, full-blown Eurotrend: shareholders venting their fury at corporations by throwing things at board members. Today brings word from Ireland that at an emergency meeting of Allied Irish Bank shareholders, angry shareholder Gary Keogh (pictured below) pelted one of the country’s most senior bankers, AIB Chairman Dermot Gleeson, with eggs:

Dermot Gleeson, chairman of Allied Irish Bank (AIB), ducked to avoid the missiles after addressing an emergency meeting at its headquarters in Dublin. Gary Keogh, a pensioner and a shareholder in AIB, was removed from the building after throwing the eggs at Mr Gleeson at the end of his address to the meeting.

Mr Keogh, 66, from the Blackrock area of South Dublin, told the board: “For the past number of years we have been told to put our money into the banks – now we have no pensions. I have no pension. My pension now is wiped out because of AIB. I cannot sell the shares because they are useless.

He added: “The whole board should be replaced by Mickey Mouse and Donald Duck.”

Stay tuned, and to all European board members I say: “Head’s up!!”

Posted by: bcarton @ 2:19 pm

Filed under: Global, Uncategorized Tags:

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment