Informa, the FTSE-100 exhibitions organiser, is braced for one more big pay protest towards its board this week.
Sky News understands that a big proportion of shareholders intend to oppose Informa’s remuneration report at its annual assembly on Thursday.
The revolt will make it the third 12 months in a row that the corporate has seen shareholders revolt towards points of the multimillion pound pay package deal handed to Lord Carter, the previous Ofcom chief govt and one-time aide to Gordon Brown.
At final 12 months’s AGM, practically two-thirds of traders voted towards pay at Informa, registering their unhappiness at an award of restricted inventory to Lord Carter, its chief govt.
One investor mentioned they’d not be stunned to see a majority oppose the remuneration report this 12 months, though that vote is just advisory.
Institutional Shareholder Services mentioned pay at Informa “remains out of line with market standards due to the operation of the variable pay schemes”, whereas the Investment Association’s IVIS service has issued a red-top alert.
Glass Lewis, one other proxy adviser, mentioned in a report back to shoppers that the corporate’s response to shareholder dissent in earlier years had been “insufficient”.
It additionally really useful votes towards the members of Informa’s remuneration committee.
Informa endured a troublesome pandemic, elevating £1bn from shareholders and suspending its dividend.
Informa declined to touch upon Tuesday, however is known to anticipate {that a} new remuneration coverage that can even be voted on on Thursday will obtain overwhelming assist from traders.
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