18th May 2016 15:19
LONDON (Alliance News) - Nearly 32% of Paddy Power Betfair PLC shareholders voted against the approval of the remuneration report at the FTSE 100 betting firm's annual general meeting on Wednesday.
Holders of 18.2 million shares voted against the remuneration report, or 32%, whilst 8.1 million shares withheld their vote.
This follows a number of shareholder revolts against executive pay packets in recent weeks, with London-listed companies such as Shire PLC, Smith & Nephew PLC, The Restaurant Group PLC, Regus PLC, Standard Life PLC, Man Group PLC, Ladbrokes PLC and Anglo American PLC all getting push back from shareholders.
Notably, industrial valve and pumps maker Weir Group PLC saw 72% of its shareholders vote against its remuneration policy, and 59% of BP PLC shareholders voted against a 20% pay rise for Chief Executive Bob Dudley last month.
Shares in Paddy Power Betfair were up 0.3% at 8,900.00 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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