US-based proxy advisory firm Glass Lewis has advised the shareholders of Godfrey Phillips to vote "against" the special resolution seeking the reappointment of Bina Modi as Managing Director at the Annual General Meeting on September 6.
As Bina Modi's remuneration exceeds the limits of Rs 5 crore or 2.5 per cent of the net profits of the company, Godfrey Phillips requires a special resolution, which has to be passed from a super majority of 75 per cent of the total votes polled.
Opposing the special resolution, Glass Lewis observed there are "no defined performance conditions for the payment of commission" to Bina Modi and her "appointment is as combined chairman and managing director".
The story "Glass Lewis opposes reappointment of Bina Modi as Godfrey Phillips MD" has 657 words across 22 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Glass Lewis opposes reappointment of Bina Modi as Godfrey Phillips MD" was covered 5 hours ago by Business Standard, a news publisher based in India.
How trustworthy is 'Business Standard' news outlet?
Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.
The outlet is headquartered in India and publishes an average of 125 news stories per day.
It's most recent story was published 3 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.