Shareholder anger over executive bonuses reached fever pitch when three blue chip companies – Shell, stockbroker Evolution and retailer Next – suffered humiliating investor rebellions at their annual meetings.
Shareholder anger over executive bonuses reached fever pitch when three blue chip companies – Shell, stockbroker Evolution and retailer Next – suffered humiliating investor rebellions at their annual meetings.
Just under 60% of Shell shareholders at simultaneous meetings in The Hague and London voted down its plans to award millions of pounds of shares to executives despite missing performance targets which should have reduced the payout to zero.
The vote against the Shell pay report was the second biggest rebellion seen at a FTSE 100 company. Only at Royal Bank of Scotland, where the government used its 70% stake as a protest vote against former chief executive Sir Fred Goodwin’s £17m pension pot, has dissent been greater at a leading company.
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