Shareholders and Embarrassment

Sarah Wilson: Weir, a FTSE 250 company, suffered the biggest embarrassment with 72.4% of investors voting against its pay policy, one of the largest rebellions since shareholders were given a say on pay in 2013, according to The Guardian. The vote on pay deals for the next three years is binding, unlike the report on the previous year pay, which is advisory. On a dramatic day in the annual general meeting season, the building materials group CRH also suffered a 40% vote against its pay policies as investors showed a renewed willingness to protest against large pay deals in scenes reminiscent of the 2012 shareholders’ spring. Sarah Wilson, the chief executive of the advisory group Manifest, said: This is one of the most significant voting results of all time. Rebellions also continued at FTSE 100 companies on Thursday. It builds on the defiant mood in which the AGM season started earlier this month when there were no votes at two FTSE 100 companies, BP and Smith & Nephew, on the same day. (news.financializer.com). As reported in the news.