 "Board changes topped company agendas in 2014")
Nearly half the resolutions passed in 2014 related to changes at the top.
As many as 8,210 out of the 17,180 resolutions which were successfully moved last year related to board changes.
The previous year saw the implementation of more stringent criteria for board members, including limits on their tenure and requirement for diverse representation.
"17,180 resolutions were passed in AGMs, EGMs, Postal Ballots and Court Convened Meetings of 1,447 companies in calendar year 2014, translating into an average of 11.87 resolutions per event...This analysis is based on 2,230 AGMs, EGMs, Postal Ballots and Court Convened Meetings conducted by 1,447 NSE listed companies in calendar year 2014," said a statement from Prime.
The second highest category of resolutions related to auditors. There were 2,071 resolutions on the matter last year. Financial results, board remuneration, investment and loan limits as well as moves related to key management personnel; accounted for between 1000-1500 resolutions each.
"2014 saw several resolutions which were either completely voted against or even if they were passed, the public shareholders voted against them in a significant manner. A large part of this can be attributed to e-voting being made mandatory. ..Of the resolutions which were voted against, the maximum pertained to resolutions relating to ‘Board Changes’ at 16 followed by ‘Memorandum of Understanding/ Agreements’ at 13," it said.