16th Jul 2019 08:14
(Alliance News) - Standard Chartered PLC's Chief Executive Bill Winters criticised the bank's "immature" investors who recently protested against his pay, the Financial Times reported on Monday.
Almost 40% of shareholders voted against the bank's new remuneration policy during its annual general meeting in May.
The vote followed anger from investors over changes in the way the company calculates pension pay for its top executives, the FT reported.
Winters told the newspaper: "Picking on individual pension arrangements? and suggesting that there is some big issue there is immature and unhelpful."
According to FT, Winters will receive a pension cash allowance of GBP474,000, the highest of any large UK-listed bank.
Winters told FT that he was happy to discuss whether executive pay is too high but criticised the company's investors for focusing on his pension.
In May, the company said it would "continue to engage with shareholders" over its controversial remuneration policy.
Winters insisted he was not "involved" in discussions about his pay which he said was a "decision for the board".
https://www.ft.com/content/60147698-a708-11e9-b6ee-3cdf3174eb89
Shares in Standard Chartered were up marginally at 717.40 pence each in London on Tuesday morning.
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