Thursday, 24 Jul 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • VIDEO
  • ScienceAlert
  • White
  • Watch
  • Trumps
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > HSBC explored axing in-person AGM amid frustration with cost and protests
Economy

HSBC explored axing in-person AGM amid frustration with cost and protests

Last updated: April 24, 2025 10:35 pm
Share
HSBC explored axing in-person AGM amid frustration with cost and protests
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

HSBC Considers Moving AGM Online to Cut Costs and Avoid Disruptions

HSBC has discussed the possibility of moving its annual general meeting (AGM) entirely online in response to mounting frustrations with disruptions from climate protesters and the costs associated with in-person gatherings. The London-based bank is exploring the option of asking shareholders to participate exclusively through virtual means, as it shifts towards a “digital-first” approach to investor meetings.

The bank is scheduled to host its upcoming annual meeting of shareholders at the InterContinental London Hotel, supplemented by the online Lumi platform. Moving to a virtual-only format would allow HSBC to reduce expenses such as venue rental, catering, and security personnel, while also minimizing disruptions from protesters.

According to sources familiar with the matter, HSBC may be considering making this year the last with an in-person option for its AGM, citing the ongoing challenges posed by protests. However, the bank has stated that its board has not yet considered any proposal to transition to a virtual AGM and that this year’s meeting will remain a hybrid event, offering shareholders the choice to attend in person.

Historically, shareholder meetings have been significant events for companies, providing individual shareholders with the opportunity to engage with senior management and hold them accountable. However, companies have increasingly sought to streamline these meetings and often request that questions be submitted in advance.

In recent years, HSBC has faced disruptions at its AGMs, primarily from environmental activists affiliated with Extinction Rebellion. Protesters have interrupted speeches and staged demonstrations at the bank’s annual meetings, prompting discussions about the feasibility of moving to a remote attendance format.

See also  6’4’’ WWE star to cost Jey Uso his World Heavyweight Title at Saturday Night’s Main Event? Exploring the possibility 

HSBC’s cost-cutting efforts under the leadership of Georges Elhedery have included merging business units and scaling back operations in certain markets. A shift to virtual AGMs would align HSBC with its Spanish counterpart Santander, which recently held its first fully remote AGM.

While many UK companies have adopted a hybrid approach to AGMs in response to the COVID-19 pandemic, fully remote gatherings have been less common due to concerns about compliance with company law. However, legal experts suggest that the risk of legal challenges to virtual AGMs is low, especially if more companies adopt this format.

In conclusion, as companies like HSBC explore the possibility of transitioning to virtual AGMs, the landscape of shareholder meetings is evolving to accommodate digital-first approaches and streamline operations. With the potential benefits of cost savings and reduced disruptions, virtual AGMs may become more prevalent in the corporate world.

Recommended

AstraZeneca and Haleon are among the companies that have embraced digitally enabled AGMs, signaling a broader trend towards remote participation in shareholder meetings. As the business world adapts to changing norms and technological advancements, the way companies engage with their shareholders is also evolving.

Additional reporting by Hannah Kuchler

TAGGED:AGMAxingCostexploredfrustrationHSBCInPersonprotests
Share This Article
Twitter Email Copy Link Print
Previous Article NASA’s Hubble Space Telescope Marks 35 Years from Launch NASA’s Hubble Space Telescope Marks 35 Years from Launch
Next Article NFL Prospects Show Off Sleek Draft Day Looks At Lambeau Field NFL Prospects Show Off Sleek Draft Day Looks At Lambeau Field
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Cardi B & Offset Sued Over Nonpayment for Mansion in ‘Like What’ Video

Cardi B and Offset are facing a legal battle over nonpayment for a mansion used…

September 17, 2024

The Best Brooches at the 2025 Met Gala

The 2025 Met Gala was a night to remember, with a focus on Black dandyism…

May 5, 2025

‘The Voice’ Recap: Kelsea Ballerini Jokes About Chase Stokes

Kelsea Ballerini was clearly smitten with her boyfriend, Chase Stokes, during the knockout rounds of…

April 15, 2025

Cyndi Lauper’s rapper son files for bankruptcy just days before sex assault lawsuit mediation

Cyndi Lauper’s son, Declyn “Dex” Lauper Thornton, is facing legal troubles once again as he…

February 2, 2025

May 23, outlaws Bonnie and Clyde killed in police ambush

Welcome to Friday, May 23rd, 2025 - the 143rd day of the year with 222…

May 23, 2025

You Might Also Like

It Can’t Be A Coincidence!
Economy

It Can’t Be A Coincidence!

July 24, 2025
American Airlines restores forecast, Tesla stock falls in wake of earnings miss
Economy

American Airlines restores forecast, Tesla stock falls in wake of earnings miss

July 24, 2025
Trump’s Handouts to Fossil Fuel Industry Will Cost Public  Billion Over Next Decade 
Environment

Trump’s Handouts to Fossil Fuel Industry Will Cost Public $80 Billion Over Next Decade 

July 24, 2025
UniCredit raises outlook with help from Commerzbank stake as it drops BPM bid
Economy

UniCredit raises outlook with help from Commerzbank stake as it drops BPM bid

July 24, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?