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GVC Holdings says it is responding to shareholder pay concerns

GVC Holdings pay concerns

Shareholders in FTSE 250 company, GVC Holdings voted heavily against its remuneration report at its AGM this week (20th June). However, the betting firm voiced its commitment to engaging with shareholders and has recruited a new chair of its remuneration committee to show it is developing a new approach to executive remuneration.… Read the rest

Morrisons: Remuneration report vote passed narrowly

Morrisons vote pay

Shareholders in Morrisons only narrowly backed the supermarket chain’s remuneration report at the AGM vote this week (15th June) with the proxy voting results showing that the company received a 48% vote against. However, the binding vote on its remuneration policy was passed with 92% support.… Read the rest

Upcoming Renault AGM results will be closely watched by investors

Renault governance pay

French carmaker Renault will be holding its AGM on 15th June and its voting results will be closely watched due to longstanding concerns about its governance and after its vote on pay was defeated last year.

The pay of Carl Ghosn, chief executive and president, was under scrutiny last year and only received 46% of votes in favour of his pay package. … Read the rest

Equilar: Highest paid US chief executives earn more than ever

Equilar highest paid US chief executives

The median pay of the 200 highest earning US chief executives (CEOs) rose to $16.9m in fiscal year 2016 according to the  annual study of US CEO pay by advisory firm Equilar and those included on this list saw a median 9% pay increase over what they earned the previous year.… Read the rest

Hermes calls for vote against VW boards and pay policy

vw remuneration pay policy

In the lead up to the AGM of the carmaker, Volkswagen (VW), last week (10th May) activist investor Hermes EOS recommended a vote against re-electing members of the management and supervisory boards and the revised remuneration policy.

Hermes believes that VW had made unsatisfactory progress in uncovering the corporate governance and culture problems which contributed to the 2015 emissions scandal.… Read the rest

ShareAction: Investors to oppose BP and Shell’s pay policies

BP remuneration policy

Responsible investment pressure group, ShareAction is calling on investors to oppose the executive pay policies of oil companies, Shell and BP, arguing that they are not aligned with the long-term interests of shareholders.
ShareAction said that the remuneration for executives at both oil companies is rewarding the achievement of corporate strategies which could put shareholder value at risk as the economy shifts towards low carbon energy production.… Read the rest

Shareholders vote down Pearson’s remuneration report

Pearson remuneration report

Educational services company Pearson, lost the vote on its remuneration report at its AGM last week (5th May). There were also significant votes opposing the company’s remuneration policy and the re-election of the remuneration committee chair.

If abstention votes are included in the total of votes there was a 61% vote against the remuneration report, 32% vote in favour and 7% abstention rate.… Read the rest

Anglo-American gains shareholder backing for executive pay policy

AngloAmerican executive pay remuneration

Global mining group Anglo-American received strong support from shareholders for its remuneration policy as well as its remuneration report at its AGM this week.

The remuneration report gained 99% support while the policy – which is a binding vote – received a 93% vote in favour.… Read the rest

BP reduces CEO remuneration and proposes a simpler pay policy

BP remuneration policy

Oil giant BP, which last year lost its advisory vote on its remuneration report at its AGM,  has reduced the pay of its chief executive, Bob Dudley, and will propose a simpler pay policy to shareholders at this year’s meeting on 17th May.… Read the rest

Bombardier back tracks on executive pay rises

An outcry from politicians and the public has forced Canadian train and aeroplane manufacturer Bombardier to back track on planned pay rises for executives after it had announced job losses and accepted a loan from its government.
Bombardier pay rises

Canadian PM Justin Trudeau forced to defend Bombardier pay rises

Following the release of the notice of its annual general meeting in May and its annual disclosure of executive remuneration there were public protests outside the Bombardier headquarters in Quebec against the pay rises.… Read the rest