What do Aviva, Barclays, Easyjet, HSBC, Xstrata, Cairn and WPP have in common? All these companies have faced angry shareholders protesting against high CEO pay. Many in Britain are calling it a 'Shareholder Spring' and it's taken down some big-ticket CEOs.
Springfever has attacked more than a dozen British companies this year and no ordinary spring this but one in which shareholders have voted down the big salaries paid to top bosses at well-known companies.
32% of Barclay's investors voted against the bank's pay report especially since bonuses reportedly amounted to over 2 billion pounds whereas the dividend payout totaled 700 million pounds.
At AVIVA more than 50% shareholders refused to support the remuneration report leading to the resignation of CEO, Andrew Moss. Sly Balley at Trinity Mirror also headed out to door when her remuneration came under attack.
20% at HSBC, 40% at Xstrata and 60% at Cairn Energy voted against top management pay plans.
Earlier this week, |
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