Yahoo Finance Governance Veteran Jubb To Quit Standard Life
It (Other OTC: ITGL - news) 's news that will have FTSE-100 bosses sleeping rather more easily tonight.
Sky News can reveal that one of the City's most prominent scourges of executive pay and governance mishaps is to quit his job next year.
Guy Jubb, Standard Life Investments' global head of governance and stewardship, will bow out after leading protests against some of Britain's biggest companies.
Mr Jubb, who frequently attended shareholder meetings to berate board directors, has spearheaded revolts against FTSE-100 members including BG Group (LSE: BG.L - news) , BP, RSA and WPP Group in recent years.
His robust approach antagonised a number of boards but reflected the prevailing post-financial crisis mood of more active engagement between fund managers and the companies whose shares they hold.
Under Vince Cable, the last business secretary, shareholders were handed a binding vote on companies' pay policies, resulting in a sharp reduction in the number of substantial revolts this year.
In a statement issued to Sky News following an enquiry about Mr Jubb's impending retirement, the company said:
"Standard Life Investments can confirm that Guy Jubb, Global Head of Governance and Stewardship, will retire from the business on 31 March 2016. He will continue to lead our engagement with companies until that date.
"On his retirement Guy will have worked for the Standard Life Group for 30 years, and he has been a member of the Standard Life Investments team since the company's inception in 1998.
"Having set up and led our private equity and smaller company investment teams, Guy pioneered in 1992 the development of our Corporate Governance team which has made governance and stewardship an integral part of the investment service we provide to our clients.
"He has also been deeply involved in developing global industry best practice in this area.
"Working with Guy, a process is underway to identify a suitable successor, who will ensure that Standard Life Investments continues to be at the forefront of governance and stewardship on behalf of our investors (Other OTC: UBGXF - news) ."
