Constructive Engagement - Book background

"Well done. I was stimulated ... your book is a valuable contribution"

- Rob Margetts CBE, Chairman: BOC and L&G

"This book is both realistic and forthright. Companies and Investors together have moved the engagement relationship to a much more balanced footing and I think that you, personally, and the work described in this book have very much helped to get us there. As a result of this I think that the UK has, through its principles-based comply and explain regime, the best framework in the world, and one worth defending and promulgating."

- Keith Jones, CEO: Morley Fund Management

"Congratulations, excellent - an interesting and entertaining book which I see as being helpful to company Boards and institutional investors. A really practical contribution to the continuing dialogue. Of course I will be commending it to interested equity investors"

- Lindsay Tomlinson, Vice-Chairman: Barclays Global Investors

"This book is thought-provoking, instructive and witty. It puts both sides of the story admirably and should be required reading for anyone involved in business."

- Lesley Stephenson, Editor: non-execs.com

From the Publisher's Description

The relationships between investors, directors and companies have never been so vital, or so confusing. Gone are the days when being a non–executive director (NED) meant an agreeable lunch and when CEOs wanted them to meet investors 'over my dead body'. Moreover, the corporate environment is full of pitfalls for unwary boards. And there are plenty of headline stories of directors who have failed to measure up. Equally, a high quality board which has the confidence of the investors is a major strategic asset: making better decisions, attracting better people and allowing bolder strategies to succeed with investor backing. Nicholas Beale uses research gathered from leading FTSE 100 chairmen, directors and investors to explore the changing roles and relationships of chairmen, executive and non–executive directors, and investors.

What emerges is a fascinating and instructive picture of constructive engagement; an approach that sees these companies (and the people behind them), each in their own way, address the challenges that are at the heart of global capitalism, and that have lead to the Higgs Review, Sarbanes-Oxley and other regulatory attempts to address corporate mismanagement. From discussions with over 100 leading practitioners, detailed studies of three leading companies, three leading investors and an extended case study on investor engagement at Royal Dutch Shell, the author draws a series of ideas and guidance for all of the parties involved.

All who are, or aspire to be, directors or significant investors in listed companies should read this book, learn the lessons it has to offer and start adopting them in their organization(s) or their portfolios.

Introduction & Acknowledgements.
Three Pivotal Issues:

Axes of Engagement
Someone of Sound Mind
A Policeman's Lot

Seven Pillars:

BP
Tate and Lyle
Vodafone
BGI
Fidelity
UBS Global Asset Management
Constructive Engagement in Action – Royal Dutch Shell. an extended case-study based on interviews with leading Directors and Investors involved, and previously unpublished documentation.

Notes of Experience:

Chairmanship and Board Effectiveness;
EDs and NEDs;
Reflections on the investment Industry;
Perspectives on the Governance Landscape and Trends.

Unscientific Postscript: From Governance to Stewardship;
Glossary, Partial Bibliography, Appendices and Index.

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From the Publisher's Description

Contents