Jupiter scraps planned 50% pay rise for Slendebroek

Set to raise to £375,000

Jupiter Asset Management has scaled back plans to increase the pay of chief executive Maarten Slendebroek by 50% after a backlash from shareholders.

According to The Sunday Times, the firm was forced to pull out of the plans to raise the CEO's pay after receiving objections from major shareholders. It had planned to increase Slendebroek's salary from £250,000 to £375,000 but caps would also have been introduced on his long- term and annual awards, with greater emphasis placed on long-term versus short-term reward. It is understood the group believed the changes, if accepted, should not have resulted in an increase in overall remuneration over the cycle and under normal circumstances, would probably have resulted in a reduction. ...