HSBC has considered scrapping its in-person annual general meeting to cut costs and prevent disruption from protesters.
The banking giant discussed moving its yearly gathering of shareholders to a digital-only format to save money on leasing venues, providing refreshments and hiring security.
HSBC is also said to be considering the move to prevent its AGMs being hijacked by protesters, particularly climate activists such as Extinction Rebellion.
There is speculation the bank’s gathering next Friday may be its last in-person AGM, the Financial Times reported.
Online only: HSBC has considered scrapping its in-person annual general meeting to cut costs and prevent disruption from protesters
HSBC has denied it is considering removing the option for investors to attend the meetings in person.
Climate protesters have targeted the bank on multiple occasions, interrupting chairman Mark Tucker’s speech in 2022.
Drugs giant AstraZeneca, toothpaste maker Haleon and building society Nationwide have made their AGMs online-only.
But critics of the move say the trend violates a key principle and shareholder democracy.
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This article was originally published by a www.dailymail.co.uk . Read the Original article here. .