We invited members who could not attend the London event, to watch the meetings live via a webcast. The webcast was run as a trial and we’re pleased to confirm we will continue to offer this service again next year.
The EGM followed the same format as an AGM. Our Chairman opened the meeting and then introduced Stephen Shone, who gave a presentation explaining the transaction. Members were then invited to ask questions, before voting.
An independent voting scrutineer collated the results of everyone in the room with all votes received by proxy in advance. The Co-operative transaction received a vote of 95% in favour and as such, was approved by members.
The presentation by Stephen Shone
The AGM is an opportunity for members to hear from our Chairman, Group Finance Director and Chief Executive. Their presentations give members an overview of the previous year, and provide the opportunity talk with our senior teams over lunch after the meeting.
Tim Melville-Ross, Chairman
Opening comments including an overview of our performance in relation to market performance and the economy, mutuality and corporate responsibility. He also talked about changes to our Board, including his own departure and our new Chairman, Rupert Pennant-Rea.
Phil Loney, Chief Executive
Phil gave some performance highlights and then discussed our strategy. In particular he covered our mutual status and our plans for future development, including member engagement.
Kerr Luscombe, Group Finance Director
Kerr's presentation gives more information about our financial performance during 2012.
David Williams, Chairman of the Remuneration Committee
David talked about how the role of the remuneration committee. He focussed on the short and long term incentive plans as well as explaining how remuneration is benchmarked