Hermes EOS targets VW and Rio Tinto on climate change and diversity
Volkswagen and Rio Tinto are among the firms Hermes EOS team will be targeting on issues like climate change, board diversity and executive pay ahead of this year’s AGM season.
Volkswagen and Rio Tinto are among the firms Hermes EOS team will be targeting on issues like climate change, board diversity and executive pay ahead of this year’s AGM season.
Outspoken Aberdeen Asset Management chief Martin Gilbert is rolling up his sleeves to become a non-executive director on the board of mining giant Glencore.
Shares in mining company Glencore slid by 5.5% to 179.4p on Wednesday morning despite the company’s attempts to reassure investors it has a plan to tackle its large debt pile.
Reading headlines about both Volkswagen and Glencore this week brought to mind Sergio Leone’s film: The Good, the Bad and the Ugly – especially given that global financial markets have felt a lot like the Wild West in recent months.
At first glance, a debt-fuelled, mining behemoth and a little yellow bird have very little in common. But, when the bird in question is a canary, and the behemoth is Glencore, then it might be possible to imagine a comparison.
Generally speaking, when a company announces plans to cut its dividend, sell assets and raise equity, it is not followed by a 10% spike in its share price.
The FTSE looked rather red on Wednesday, but two tickers caught the eye: one red and one green.