FTSE 100 companies are finding it harder to gain shareholder approval for executive remuneration plans as concerns escalate over excessive CEO pay.
Investors are concerned about the lack of transparency and disclosures at some FTSE 100 firms, which have failed to gain shareholder approval for their pay packages, according to a survey by Deloitte. The latest survey shows eight firms in the index failed to get 75% approval for their plans, with two missing the 50% majority mark, Bloomberg reports. Only 26% of the largest 30 firms managed to get 95% backing from their shareholders this year, even though last year more than half of them reached this threshold. Standard Life CEO takes £600k pay cut on fears of shareholder revolt ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
