Feeling Heat: Shareholder Rebellions and Pension Payments

feeling heat: Both face their investors at annual general meetings this week, having ruffled feathers in recent months over their excessive pay packets, according to The Independent. Conn's remuneration has grown with the help of two bonuses, each worth 388,000, while Horta-Os rio is feeling the heat over annual pension payments viewed by many shareholders as little more than a backdoor pay rise. Conn's bedfellow in shareholder discontent is Lloyds Banking Group's chief executive, Ant nio Horta-Os rio. It puts both companies at risk of joining the list of British boards which have suffered shareholder rebellions over the 2019 AGM season, including Barclays, engineering business John Wood and shipping services company Clarkson. The backlash may be smaller, given Lloyds and Centrica have support from influential shareholder advisory firms Glass Lewis and ISS, but it won't go unnoticed. London-based bank Standard Chartered also suffered a 36% vote against its own pay policy last week. (news.financializer.com). As reported in the news.

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