With the annual assembly season in full swing,companies are wondering whether investor anger will turn into a tide of protestA £23m pay deal for the chief executive of Reckitt Benckiser will near into focus this week when the Dettol-to-Durex maker puts its remuneration plans to the vote at its annual general assembly. Rakesh Kapoor’s package – twice what he received the year before – has been described by one shareholder as a misjudgment of the mood of investors, who have marked 2016 as the year they are prepared to say no to exorbitant pay deals.
Boardroom bosses will be trying to gauge whether the revolts, and which got this year’s season off to a blistering start,can be maintained. With BP and Smith & Nephew still reeling from No votes at the start of April, Shire Pharmaceuticals and fellow FTSE 100 member CRH were final week rebuked by investors, or while in the FTSE 250,engineering firm Weir had to abandon plans to issue shares to its directors after a resounding protest.
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Source: theguardian.com