Top Glove of Malaysia defends the board after criticism from BlackRock

    KUALA LUMPUR (Reuters) – Malaysia’s Top Glove Corp defended its advice Friday after BlackRock Inc issued a harsh statement, attacking the company’s handling of a coronavirus outbreak and claiming it voted against the re-election of six. administrators this week.

    The six independent directors were re-elected on Wednesday at the company’s annual general meeting, winning between 86.5% and 72.3% of the shareholder votes.

    The world’s largest wealth manager cited workers’ living and working conditions accounts, the firing of a whistleblower and the virus cluster in his board conviction, and said he will vote against the re-election of other directors at meetings future.

    - Advertisement -

    In its statement, Top Glove, the world’s largest manufacturer of medical gloves, said its independent directors have served an average of six years and that the board meets regularly to discuss the pandemic and other governance issues.

    A unit of BlackRock, BlackRock Institutional Trust Co, is Top Glove’s 10th shareholder, with 1.07% of its shares.

    More than 5,000 Top Glove foreign workers have been infected and one died during a coronavirus outbreak last year in what has become Malaysia’s largest cluster.

    Reporting by Liz Lee; Editing by Edwina Gibbs

    - Advertisement -

    Latest Articles