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LONDON - Institutional Shareholder Services (ISS), an influential proxy advisory firm, has recommended that shareholders of Ricardo plc vote in favor of a resolution to remove the company’s chairman, Mr. Mark Clare, at the upcoming General Meeting on June 18, 2025. This recommendation was announced today and is based on what ISS cites as Ricardo’s persistent underperformance and ineffective strategy compared to its peers.
ISS’s endorsement supports the position of Science Group, which has previously expressed concerns regarding Ricardo’s performance. In light of this, Science Group is urging all shareholders to vote for the resolution to remove Clare from his position as director and chairman.
The recommendation from ISS is significant as it often influences how institutional investors vote on corporate matters. The proxy agency’s decision reflects its assessment of Ricardo’s long-term performance and the strategic direction under Clare’s leadership.
Science Group’s understanding is that ISS’s recommendation stems from a detailed analysis of Ricardo’s performance metrics and strategic decisions, which have not successfully addressed the company’s underperformance in relation to its peer group.
The outcome of the vote at the General Meeting will be closely watched by investors as it may signal a shift in Ricardo’s governance and strategic approach. The company’s response to the ISS recommendation and the subsequent actions by shareholders could have a notable impact on Ricardo’s future direction.
This information is based on a press release statement from Science Group plc.
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