Investors must police boards

Association of British Insurers’ investment committee chairman Alain Dromer, has told American and European investors in UK firms to police boards better, the Times reports.

About 70% of UK company shares are owned by overseas investors. Shareholders are supposed to take collective action to lobby for change at companies when as individuals they are ignored.

Dromer, who is also chief executive of Aviva Investors, said that he was prepared to throw his weight around. “I would do that when it is relevant, when Aviva Investors is an important shareholder or when as [committee] chairman I have a special insight,” he said.