United KingdomAdvisory firm PIRC slams Shell on climate strategy before AGM
Ron Bousso
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The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo
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Shareholder advisory PIRC recommended investors vote against Shell s non-binding resolution on its energy transition strategy on Tuesday, setting up a showdown at its annual general meeting next week.
The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said Royal Dutch Shell s (RDSa.L) strategy to cut emissions does not seem to have a clear plan for the competitive aspects of the energy transition .
Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive, defying expectations it would pick an external candidate to repair its image after its destruction of sacred Aboriginal rock shelters.
The destruction of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked public and investor uproar that ultimately led to the resignation of incumbent Jean-Sebastien Jacques and two deputies.
Stausholm, who joined Rio as CFO in 2018, is now tasked with the tough job of repairing strained relationships with investors and the Aboriginal community while reforming the mining company to improve oversight.
Rio’s choice of an internal candidate was a surprise as most bankers and investors had expecting the company to choose an outsider to start with a clean slate.
Rio Tinto names CFO as next chief executive, defying expectations it would pick external candidate theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.