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Schroders survives investor ire over CEO's move to chairman

Reuters - UK Focus

LONDON, April 28 (Reuters) - Leading British asset manager Schroders (LSE: SDR.L - news) faced a revolt at its annual general meeting on Thursday after 14.91 percent of shareholders opposed the appointment of its former chief executive to the role of chairman.

The firm, Britain's biggest standalone listed fund firm by assets under management, was forced to defend its plan last month after long-serving CEO Michael Dobson switched roles, in what some shareholders have called a breach of corporate governance best-practice. (Reporting by Simon Jessop, editing by Sinead Cruise)