8th Sep 2020 17:26
(Alliance News) - International Consolidated Airlines Group SA on Tuesday noted that a sizeable amount of shareholders protested against its directors' remuneration report.
It was the British Airways owner's final annual general meeting before Willie Walsh bowed out as chief executive officer, replaced by Luis Gallego, boss of subsidiary Iberia.
IAG said 72% of shareholders approved a "consultative vote on the 2019 annual report on directors' remuneration". However, 21% rejected the motion and 7.8% abstained.
IAG said it "welcomes" the majority but will engage with those investors who rejected the motion.
"The board will continue to engage with shareholders to fully understand their concerns (as part of wider engagement in relation to the renewal of our directors' remuneration policy in 2021) and will publish, in accordance with the UK corporate governance code, an update on this engagement within six months of the this AGM."
All other resolutions passed.
IAG shares closed 0.7% lower at 207.80 pence each in London on Tuesday.
By Eric Cunha; [email protected]
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