Market Chatter: Manchester United Criticized by Shareholder Advisory Firm for Weak Governance

MT Newswires Live06-22 17:04

Manchester United (MANU) is being criticized by proxy advisory firm Institutional Shareholder Services, or ISS, over an alleged lack of board independence, Bloomberg reported Friday, citing a copy of a report it obtained.

The UK soccer franchise is accused of weak corporate governance and a board that falls short in its oversight duties, including the absence of a nominating committee, Bloomberg said.

Bloomberg said, citing the report, that ISS viewed only two of the board members as independent.

Manchester United and ISS did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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