Advertisement
UK markets open in 5 hours 19 minutes

  • NIKKEI 225

    38,462.70
    -372.40 (-0.96%)
     

  • HANG SENG

    18,510.54
    +31.17 (+0.17%)
     

  • CRUDE OIL

    78.12
    -0.26 (-0.33%)
     

  • GOLD FUTURES

    2,321.00
    -3.20 (-0.14%)
     

  • DOW

    38,884.26
    +31.99 (+0.08%)
     

  • Bitcoin GBP

    50,091.50
    -896.81 (-1.76%)
     

  • CMC Crypto 200

    1,297.09
    -68.04 (-4.98%)
     

  • NASDAQ Composite

    16,332.56
    -16.69 (-0.10%)
     

  • UK FTSE All Share

    4,522.99
    +53.90 (+1.21%)
     
Money:

The retirement income gap no-one is talking about

People are living longer than ever before and this can impact how you plan for retirement

Standard Life fund arm concerned by governance at VW, Shell

Reuters - UK Focus

(Corrects name of VW executive in second paragraph to Hans Dieter Poetsche)

LONDON, March 2 (Reuters) - The investment arm of British insurer Standard life (LSE: SL.L - news) said on Wednesday it would escalate its engagement with management at Volkswagen (LSE: 0P6N.L - news) and Royal Dutch Shell (Xetra: R6C1.DE - news) , citing governance concerns.

In its annual governance and stewardship report, Standard Life Investments said it continued to be worried about a lack of independence on Volkswagen's supervisory board and board committees following the appointment of former Chief Financial Officer Hans Dieter Poetsche as chairman of the supervisory board, in the wake of the firm's emissions scandal.

The fund manager also said it continued to have concerns about audit quality at Shell (LSE: RDSB.L - news) following the appointment of EY - which also served as auditor of BG, the company recently taken over by the oil and gas heavyweight.

Standard Life Investments flagged the two companies as candidates for "escalation", indicating that they would increase engagement with company management to seek reassurance on their concerns. (Reporting by Carolyn Cohn, editing by Sinead Cruise)