We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedGovernance

Half of Aviva investors vote down pay deal


CEO Andrew Moss surrendered his 2012 pay rise on Monday in a bid to avoid an investor backlash at the agm

Article comments

The decision by Aviva’s boss to waive his 2012 pay rise on Monday wasn’t enough to head off an investor backlash at the insurer on Thursday as 50 percent of investors voted down its pay plans.

At the company annual general meeting held in London on Thursday Aviva became the latest in a growing list of British companies to face a shareholder revolt over its remuneration plans with 50 percent of proxy votes cast against the proposals.

The dissenting vote, which compares with an average of just 6 percent for British companies last year, comes amid mounting shareholder determination that executives' pay packets should be aligned more closely with performance.

Aviva, Britain's second-biggest insurer, had attempted on Monday to mollify critical shareholders by cancelling chief executive Andrew Moss's 2012 pay rise, and opening a review into generous recruitment offers for senior executives.

The final voting figure could change once votes cast at the general meeting are counted.

"We take the views of our shareholders very seriously," Scott Wheway, the chairman of Aviva's remuneration committee, said in a statement on Monday in a bid to head off a shareholder revolt.

Photo credit: Reuters

Share:

Comments

Half of Aviva investors vote down pay deal
Governance

What makes a good board report?

What makes a good board report?

Examining how CFOs can improve the way they report back to the boardmore ..


Vodafone buys out partner's stake in Indian unit

Mobile giant acquires the remaining 11% it did not already ownmore ..

Financial advisers not being clear enough on charges, says watchdog

FCA’s review found 73% of firms failed to provide adequate informationmore ..

EU data retention rules violate privacy rights, EU court rules

Rules requiring telcos to retain communications metadata are disproportionate, the court saidmore ..

Examining the issue of corporate litigation funding

Litigation funding is a very useful tool for CFOs but not a panacea for all legal mattersmore ..

Corporate governance: A catalyst for innovation

Corporate governance is a powerful tool in a C-suite executive’s arsenalmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *