SLA sees 42% backlash against directors' pay

Incoming CFO salary main reason for vote result

clock • 2 min read

Standard Life Aberdeen (SLA) has witnessed a "significant" shareholder revolt against the planned pay awarded to incoming chief financial officer (CFO) Stephanie Bruce.

Yesterday afternoon, shareholders of the £569bn asset management business voted with large majority - in most cases almost unanimously - in favour of all 14 tabled resolutions at its annual general meeting (AGM) yesterday (14 May 2019), bar one. Only 57.98% voted in favour of Resolution 5, "to approve the directors' remuneration report, excluding the remuneration policy". A statement said: "Through engagement, we were aware that certain institutional shareholders were not supportive of specific aspects of the arrangements relating to the remuneration of the incoming CFO, as disclosed ...

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