Schroders' shareholders have voted 85% in favour of former CEO Michael Dobson being elected as chairman, despite opposition from groups such as Hermes and Royal London.
At an AGM held earlier today, 85.09% voted in favour of Dobson's elevation to chairman, winning the "simple majority", while just 14.9% voted against, although some shareholders said the move breached corporate governance rules. Philip Howard, senior independent director, said in a statement: "The company notes that more than 85% of shareholders who voted supported the re-election of Michael Dobson (pictured). "As I have explained previously, the board, before proposing Dobson as chairman, consulted with its major shareholders and this engagement will continue." Schroders' shares ...
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