Diageo shareholders to vote on executive pay

17 September, 2013

Diageo is facing an investor revolt over “excessive” executive pay packages, according to shareholder advisory firm Manifest.

The investors will vote on Thursday on a remuneration report which recommends an £18.2 million retirement package for former chief executive Paul Walsh.

The report also recommends a basic salary of £1 million for Walsh’s replacement Ivan Menezes, who started in July and is eligible for share and performance bonuses that could take his annual pay above £9 million.

But data and analyst firm Manifest believes some investors will vote against the remuneration report, which it attacked for excessive levels of incentive pay and poor annual bonus target disclosures.

It also criticised the company’s “weak” performance targets.




Bookmark this


Site Search

COMMENT

Faith in fakes

One of the most fascinating stories in wine, fit to stand alongside the Judgement of Paris, is that of Rudy Kurniawan, a man who managed to fool friends, auction houses and experts into believing they were drinking some of the world’s most expensive wines.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter