Say on Pay: A Job for Corporate Secretaries, IROs or Both?

NEW YORK, April 3, 2012 /PRNewswire/ -- IR Insight, the research arm of IR magazine, has released Say on pay, a report of its survey of 188 corporate readers of both IR magazine, the global voice of investor relations, and its sister publication Corporate Secretary, the governance, risk and compliance monthly. The research report reveals what US IROs and corporate secretaries truly think about the recently introduced legislation on executive compensation: its effect on their workload, their respective roles in the practice of say on pay, and their predictions for the future.

This latest report from IR Insight, downloadable at the Corporate Secretary and IR magazine websites (CorporateSecretary.com and InsideInvestorRelations.com) provides insights that will not be found anywhere else. A total of 188 individuals took part in the survey: 108 corporate secretaries and 80 investor relations officers.

Here are some of the headline findings:

• 92% of corporate secretaries and 41% of IROs  were involved in say on pay in 2011
  When IROs are involved, they typically work closely with the corporate secretary, most often in areas like shareholder outreach and preparation of the compensation discussion and analysis (CD&A). Of the IRO respondents to the survey who have been involved in say on pay, more than half report the conversation coming up with investors.
• Saying when on pay
  Looking to the future, more than nine in 10 companies have opted for an annual vote on executive compensation.
• 55% of companies surveyed used proxy solicitors in 2011
  The companies that did not use a proxy solicitor last year received higher support than those that did, albeit by only a narrow margin. Just 7% of companies not using solicitors last year plan to do so in future.
• 76% of the companies  surveyed are subject to proxy adviser recommendations
  Advisers like ISS and Glass Lewis made recommendations in respect of the pay plans of more than three-quarters of the companies surveyed – more than half of which received positive recommendations.

About IR magazine
Turn to IR magazine for the latest insights on trends and practices in the investor relations community. IR magazine, available both in digital form and in traditional hard copy, is the only global publication focused on the interface between companies and their investors. The magazine hosts events in the US, Europe, Canada, Singapore, Hong Kong, China and Brazil. Inside Investor Relations (www.InsideInvestorRelations.com) is the magazine's companion website, which includes daily news updates that are highly relevant to investor relations professionals; and IR Insight is the publication's research arm, which investigates issues relevant to IR by surveying both the investment and the IRO communities.

About Corporate Secretary
Corporate Secretary provides news, information and insights to the corporate legal, compliance and governance community. Launched in 2002, it has grown to include a monthly magazine with a circulation exceeding 10,000, the CorporateSecretary.com website and several events across North America, including the annual Corporate Governance Awards.

About Cross Border Ltd
Cross Border Ltd publishes IR magazine and Corporate Secretary. Based in New York and London, the company reaches highly targeted audiences in the investor relations and corporate governance communities through the two magazines and accompanying newsletters, events and websites. With roots in the Economist Group, we are renowned for providing quality insight and a global perspective. Our flagship publications, IR magazine and Corporate Secretary, are essential reading for executives around the world. Our awards are a key part of the calendar in leading financial centers including New York, London and Shanghai. With an expanding portfolio of digital properties and more than 20 conferences and events each year, we are well positioned for growth.

Visit IR magazine: www.InsideInvestorRelations.com

Visit Corporate Secretary: www.CorporateSecretary.com

Neil Stewart
Editor-at-large
IR magazine
[email protected]
+1 212 430 6876

SOURCE IR magazine