# General Business Category > Entrepreneurship and Business Management Forum >  PIC makes its voting record public

## Dave A

This one will interest people involved with companies.



> The Public Investment Corporation (PIC) has taken corporate accountability and disclosure up a notch with the first-time publication of its record of voting at its annual general meeting (AGM).
> 
> The PIC, the countryÃ¢â¬â¢s largest shareholder with more than R700 billion of funds under management, yesterday released on its website the details of the way in which it voted at AGMs last year. In future it will provide these
> details quarterly.
> 
> Some of the things the PIC opposed included asking shareholders to approve directorsÃ¢â¬â¢ remuneration for the year just passed. These will never be approved by the PIC, which wants companies to ask for approval in advance.
> 
> The PIC will not vote in favour of a general authority to place the unissued shares of a company under the control of directors. It will also not vote in support of a bid to issue shares for cash.
> 
> ...


That makes for interesting and mostly sensible policy. The only one I'm chewing over from those listed above is the issue of directors remuneration being approved in advance. Tricky, as they should be judged on their performance, not their promises.

This one shows that they're not all hard business, though.



> At the controversial Barloworld AGM last year, the PIC voted against the re-election of chairman Warren Clewlow because it was not in the interests of transformation.


Is this heart ruling the head, or is Barloworld still needing transformation credits to maximise its potential return for investors? I understood Barloworld to be well ranked on the BBBEE stakes  :Confused:

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