Top investor refuses to vote on Rio Tinto’s annual report and accounts following bullying scandal
A top investor has refused to vote on Rio Tinto’s annual report and accounts following a bullying scandal.
Investment manager Abrdn, which owns a 0.29 per cent stake in the mining giant worth £223m, abstained at Rio’s AGM on Friday following a scathing study of its workplace culture published last month.
Refusal: Abrdn, which owns a 0.29 per cent stake in Rio Tinto worth £223m, abstained at the AGM
The probe, commissioned by Rio Tinto and compiled by the consultancy Elizabeth Broderick & Co, exposed bullying, racism and sexual harassment.
Andrew Mason, Abrdn’s stewardship director, said: ‘In light of the nature, severity and systemic impacts of the issues raised we have decided to abstain from our vote to approve the company’s reports and accounts.’