Paul McBeth
Friday 30th July 2010 1 Comment |
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Hawkins told an audience of about 180 that though he will not go about business the same way as his predecessor, Bruce Sheppard, he will be as direct in confronting poor governance and weak shareholder returns.
The association will be releasing research comparing the increases in CEO pay compared to returns generated for shareholders for the last five years, showing executives' gains have far outstripped those of companies' owners, and the initiative will be spear-headed by director Des Hunt.
Hawkins said he will tap his fellow directors to front campaigns, and will not be the seeming one-man band that his predecessor was.
The association needs to double its numbers, and Hawkins called on the members to bring on at least one new person over the coming year.
"We need the best Shareholders' Association we can get, and we need to double our membership," he said.
Drawing on the association's education programme to boost financial literacy was high on the agenda, and Hawkins will look to tap as much of the $500,000 in the NZX Disciplinary Tribunal's account to help drive this initiative. The NZX's regulatory function is being brought under the banner of the FMA.
Another item on Hawkins' agenda will be to boost the representation of women on New Zealand companies' boards, saying the association is working with the Ministry of Women's Affairs, and will appoint one, if not two, women to its board in the coming months.
Hawkins said he is also keen to look at advocating for debenture holders, and will put it to the board.
The association will continue to work with the wider investing community including institutions to achieve its goal.
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