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Pin to quick picksHargreaves Lansdown Share News (HL.)

Share Price Information for Hargreaves Lansdown (HL.)

London Stock Exchange
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Share Price: 1,064.00
Bid: 1,063.50
Ask: 1,064.50
Change: 8.50 (0.81%)
Spread: 1.00 (0.094%)
Open: 1,075.50
High: 1,080.50
Low: 1,059.00
Prev. Close: 1,055.50
HL. Live PriceLast checked at -

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Hargreaves Lansdown investors urged to vote against chair re-election

Tue, 28th Nov 2023 10:22

(Sharecast News) - The non-executive chair of Hargreaves Lansdown, Deanna Oppenheimer, is expected to face a shareholder backlash at the financial services company's annual general meeting (AGM) in December.

According to Sky News, proxy voting firm Glass Lewis is recommending shareholders to vote against her re-election when they meet on 8 December, which would mark her sixth AGM as chair of the board.

In a letter to clients obtained by Sky News, Glass Lewis said it was "concerned with the paucity of disclosure surrounding the significant level of dissent to the re-election of directors".

The rumours follow reports in the summer regarding co-founder Peter Hargreaves' public disappointment with Oppenheimer's performance, which led the company to publish a statement saying it had "commenced an exercise to determine the attributes of any successor chair candidates".

The co-founder was quoted by Sky News as saying Oppenheimer's five-year tenure had been a "disaster", with the share price having tanked 60% during the period.

Then, at the company's last AGM in October 2022, 33.53% of voting shareholders voted against the re-election of Oppenheimer.

Shares in Hargreaves Lansdown, which is set to be demoted from the FTSE 100 in the latest quarterly reshuffle, were 1% lower at 700.6p by 1039 GMT.

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