Prudential chief pay plans prompt shareholder dissent

clock

A significant minority of investors at Prudential have voted against chief executive Tidjane Thiam's 2012 pay deal, delivering a rebuke to leadership already under fire for their handling of a failed Asian takeover.

Shareholders representing nearly 12% of the company's capital at its annual general meeting in London voted against approving Thiam's £7.8m pay and benefits package - up from £4.7m a year earlier, according to Reuters. The dissenting vote was far less pronounced than a protest by shareholders last year, part of a broader debate over the scale of executive pay deals in Britain. But it was still far higher than the average for dissent at such meetings. Normally management decisions are simply waved through by the fund managers who tend to hold the bulk of shares in insurers and other ma...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

St James's Place results lay bare cost and charging challenges against market tumult

St James's Place results lay bare cost and charging challenges against market tumult

'Structural opportunity' for advice industry

Hope Coumbe
clock 28 February 2024 • 3 min read
SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Trustpilot