BusinessCompany NewsShareholder revolt against FTSE 100 exec pay

Shareholder revolt against FTSE 100 exec pay

A fifth of shareholders vote against exec pay in 2009

A fifth of FTSE businesses faced strong shareholder revolt over executives’
remuneration.

PwC’s report into executive remuneration found that for one in five FTSE 100
companies, more than 20% of shareholders withheld support for their directors’
remuneration packages.

“Although the focus of remuneration reform has so far been on the banking
sector, we are already seeing spill-over to other sectors. In particular, the
requirements to strengthen governance around pay and make proper allowance for
risk in measuring performance will touch all companies,” said PwC reward partner
Tom Gosling.

“With regulation and legislation encroaching into the area of executive pay,
the coming year may represent the last chance for shareholders, regulators,
consultants and companies to show that each can play their role in preserving
the comply or explain approach to governing pay and avoid the introduction of a
draconian rules-based approach.”

Related Articles

PwC scoops Rolls-Royce audit as tender results pile up

Accounting Firms PwC scoops Rolls-Royce audit as tender results pile up

1y Stephanie Wix, Writer
Legal and General lines up KPMG as external auditor

Accounting Firms Legal and General lines up KPMG as external auditor

1y Stephanie Wix, Writer
EY scoops Schroders audit from PwC

Audit EY scoops Schroders audit from PwC

1y Stephanie Wix, Writer
Deloitte scoops BP and Centrica audits

Accounting Firms Deloitte scoops BP and Centrica audits

1y Stephanie Wix, Writer
EY joins PwC in signing Women in Finance charter

Accounting Firms EY joins PwC in signing Women in Finance charter

1y Fraser Simpson, Reporter
Ex-PwC chairman Powell to join Capita

Accounting Firms Ex-PwC chairman Powell to join Capita

1y Fraser Simpson, Reporter
Former PwC employees found guilty in Luxleaks trial

Accounting Firms Former PwC employees found guilty in Luxleaks trial

1y Fraser Simpson, Reporter
Which Big Four firms are the best employers in the UK?

Accounting Firms Which Big Four firms are the best employers in the UK?

1y Fraser Simpson, Reporter