Insurer Hiscox and oil and gas firm BG Group were among a group of listed companies facing shareholder rebellion yesterday.
Hiscox faced the biggest protest vote this year with 42% of shareholders voting against its proposed package that did not cap new executive directors’ pay and awarded boss Bronek Masojada a 20% pay rise. In 2013 Masojada enjoyed a 21% bump in pay to £2.34 million.
A third of those voting on BG’s pay packets voted opposed its remuneration plans after the shock departure of chief executive Chris Finlyason in April and warnings over lower output.
UTV Media, Petrofac and Lloyds Bank Group all saw smaller shareholder rebellions against their remuneration reports.
The shareholder opposition represents a hark back to 2012’s ‘shareholder spring’ as AGM’s were dogged with protests.
