Thursday, 3 May 2012
Aviva shareholders revolt on board pay
It must be worth noting that there has been a 54% vote against the remuneration committee report at Aviva's annual meeting. This follows votes at other major companies indicating shareholder dissatisfaction over executive pay - not least rising pay in the face of falling performance. This groundswell of opinion seems to be an international phenomenon, with shareholders complaining in the USA and elsewhere. About time too! Next I'd like to see such votes having the power to compel management to withdraw their proposals. If that does not happen then I think we will see the rise of votes to remove directors from office. See Guardian article.
Posted by Brian Finch at 08:40