Standard Life CEO Keith has cut his pay by more than £600,000 in a bid to prevent a shareholder revolt over senior remuneration packages at next week's annual general meeting (AGM).
According to The Times, Standard Life said Skeoch (pictured) has reduced his potential bonus to £2.8m, equivalent to 400% of his £700,000 a year salary, rather than 500% as previously agreed. The move comes ahead of the company's AGM next week, which was expected to prompt a shareholder revolt over Skeoch's bonus. It follows a series of shareholder actions against senior pay rises known as the 'shareholder spring', with Royal Dutch Shell also facing a possible revolt over plans to give its CEO Ben van Beurden a multi-million pound bonus despite an 80% plunge in profits. Reckitt Ben...
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