“Our new guidelines are designed to ensure the individuals responsible for a company’s executive pay practices are held to account. We hope this can at last deliver meaningful progress on excessive top pay.”The PLSA’s corporate governance code states: “Remuneration committees should take ownership of, and be accountable for, both the remuneration policy and its outcomes. Companies should consider how they might align pay more closely with the interests of their long-term owners to position themselves best for future success.”The trade body’s comments come after BlackRock, the world’s largest asset manager, wrote to the chairs of the 350 biggest listed companies in the UK last week.The asset manager said executive pay increases should not exceed those granted to the rest of its workforce.The letter, quoted in the Financial Times, said: “In the case of a significant pay increase that is out of line with the rest of the workforce, BlackRock expects the company to provide a strong supporting rationale.”The PLSA’s guidelines also include a recommendation to vote against a company’s report and accounts if there is no statement regarding diversity policy. The UK’s pension fund trade body has added its voice to those calling for a tougher stance on executive pay.The Pensions and Lifetime Savings Association (PLSA) wants investors to oppose the re-election of remuneration committee chairs if they also reject pay packages.The recommendation is part of an updated PLSA corporate governance policy and voting guidelines, aimed at encouraging pension fund investors to be more active when voting on remuneration issues.Luke Hildyard, the PLSA’s policy lead for stewardship and corporate governance, said: “Provocative levels of executive pay are doing great damage to the reputation of British business. The failure of some companies to recognise stakeholder concerns on this issue is a major worry for pension funds as investors.
BAR HARBOR — The passion and intensity of the Ellsworth vs. Mount Desert Island rivalry filled the Bar Harbor air last week, and the warmth of the pool deck provided a welcome reprieve from the bitter cold.Ellsworth and MDI continued their successful 2018-19 swim seasons Friday with a dual meet at the MDI YMCA. The Trojans won the boys’ and girls’ meets, but the Eagles put up valiant efforts and set multiple records in the process.“There were lots of close races and lots of fast swims,” MDI head coach Tony DeMuro said. “It was nice to have the kids get pumped up to race a really good team, and they responded well.”The girls’ meet between Ellsworth and MDI was particularly thrilling with the Trojans edging the Eagles 88-87. MDI secured the team win with a first-place finish in the final race, the 400-yard freestyle relay.This is placeholder textThis is placeholder textFor Ellsworth, the quartet of Ellie Clarke, Miriam Nelson, Caitlin MacPherson and Kristy Barry set a new record in the 200-yard freestyle relay with a time of 1 minute, 46.26 seconds. On the diving board, freshman Elena Springer posted a score of 195.5 to break her old record of 165.MacPherson enjoyed a strong day individually for Ellsworth with wins in the 50-yard freestyle and 100-yard breaststroke. Clarke posted two wins of her own with triumphs in the 200-yard individual medley and 100-yard backstroke.For the Trojans, Ruby Brown (200-yard freestyle) and Adria Horton (500-yard freestyle) posted individual wins. The two combined with Addy Smith and Maria Saltysiak to give the Trojans the win in the 400 freestyle relay.On the boys’ side, Ellsworth’s Camden Holmes set an MDI YMCA pool record with a time of 21.66 seconds in the 50 freestyle. Later, Holmes posted his second win of the night with a time of 5:12.43 in the 500 freestyle.Ellsworth’s other individual wins came courtesy of Henry Scheff (200 IM) and Nick Partridge (100 breaststroke). As a team, the Eagles won the 200-yard medley relay with a time of 1:40.68.Liam Sullivan posted a pair of individual wins for MDI with victories in the 200 freestyle and 100 backstroke. Sam Mitchell (1-meter dive), Tyler Willis (100-yard butterfly) and Tyler Woodworth (100-yard freestyle) posted the other individual wins for the Trojans.Willis, Sullivan, Woodworth and Ponce Saltysiak posted a time of 3:28.67 to give MDI a win in the 400 freestyle relay. The Trojans defeated Ellsworth by a score of 99-81 in the overall team event.“We’re running out of work days,” DeMuro said. “We need to keep the pedal to the metal and just keep getting better.”MDI will face Orono at 6 p.m. this Friday, Jan. 18, at the University of Maine. Ellsworth, which defeated Belfast 53-45 on the boys’ side and 49-45 on the girls’ side Tuesday, will host Old Town at 7 p.m. Friday.“It was a very tight meet, and there were many close and exciting races,” Ellsworth head coach Jim Goodman said of the Belfast meet. “[It was] a chance to have the swimmers compete against a great team that we normally only swim at states. It was a great experience, and Belfast is a great host.” Latest posts by Mike Mandell (see all) Latest Posts Bio MPA approves golf, XC, field hockey, soccer; football, volleyball moved to spring – September 10, 2020 Mike MandellMike Mandell is the sports editor at The Ellsworth American and Mount Desert Islander. He began working for The American in August 2016. You can reach him via email at [email protected] Hospice volunteers help families navigate grief and find hope – September 12, 2020 Ellsworth runners compete in virtual Boston Marathon – September 16, 2020