THE IFA network owner Misys faces a revolt next week over a controversial £1.2m retention bonus for two executives, despite offering concessions to leading investors, according to the Guardian .
The company made two changes to the bonus plan but the Association of British Insurers and the National Association of Pension Funds have voiced concern about the pay plans, which are intended to keep two directors in place while a search for a new chief executive is conducted. The ABI has kept Misys on a "red top alert" to indicate concerns about the pay deal while RREV, the body that advises the NAPF, is continuing to advise its members to vote against the resolution at next Tuesday's annual meeting. A vote against could be damaging for Misys as the company is allowing its investors a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
