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 ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Did the bond market cause Trump's tariff U-turn?

Did the bond market cause Trump's tariff U-turn?

90-day pause on tariffs introduced on ‘Liberation Day’

Laith Khalaf
clock 24 April 2025 • 3 min read
RLAM implements Sustainability Focus label across £11bn portfolio range

RLAM implements Sustainability Focus label across £11bn portfolio range

Across a mix of funds and trusts

Cristian Angeloni
clock 23 April 2025 • 1 min read
Advisers notice growing client demand for bespoke investments

Advisers notice growing client demand for bespoke investments

Want access to ETFs, investment trusts, equities, bonds and AIM shares

Isabel Baxter
clock 17 April 2025 • 2 min read