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11/10/2016
Publicly-quoted companies have cut back on the number of executive incentive arrangements they operate since a major investment management firm, Legal & General Investment Management, warned in 2013 that it would vote against multiple and complex pay schemes. Analysis from LGIM shows that the proportion of companies with more than one incentive plan fell from 43% in 2013 to 18% in 2015.
The research also shows that 50% of the 188 resolutions that the investment management firm voted against at shareholders’ meetings last year related to remuneration issues. This spring it voted against the executive package at BP because it felt ‘there was poor alignment between long-term shareholder returns and executive remuneration.’