Advisor PIRC opposes shareholder plan to overhaul Petropavlovsk board
LONDON, June 13 (Reuters) - Advisor PIRC has recommended investors oppose a plan to overhaul the board at London-listed miner Petropavlovsk (LSE: POG.L - news) 's June 22 annual general meeting.
Three top shareholders have put forward resolutions aimed at replacing Petropavlovsk Chairman Peter Hambro and three non-executive directors with their nominees, citing corporate governance failures.
PIRC, in a report seen by Reuters on Tuesday, opposed the election of the new directors, citing concerns around their independence.
Two other leading shareholder voting advisors, Glass Lewis and ISS (LSE: 0QRS.L - news) , have also said they oppose the planned changes. (Reporting by Simon Jessop; editing by Carolyn Cohn)