ARTICLE · 30 NOVEMBER 1998

Losing the Vote

Hammonds

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United KingdomEmployment and HR

The National Association of Pension Funds (NAPF) launched in October 1998 a Committee of Inquiry into shareholder voting. Headed by Yve Newbold, a Partner in Heidrick and Struggles, and formerly the Company Secretary for Hanson plc, the inquiry's terms of reference are to "examine the means by which votes are cast by or on behalf of institutional investors, report to the NAPF Investment Committee and make recommendations". The Department of Trade and Industry has welcomed the NAPF initiative in launching the inquiry and will be sending a member of its Company Law and Investigations Directorate to participate in the inquiry as an observer.

The work of the inquiry, to be completed by June 1999, will include:

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