28th Apr 2016 12:41
LONDON (Alliance News) - Dublin-based drugmaker Shire PLC faced a rebellion over its executive pay, as just shy of half its shareholders voted against its remuneration report at its annual general meeting on Thursday.
Shire said 49% of shareholders voted to reject the report, covering the pay of Chief Executive Officer Flemming Ornskov and other senior Shire executives, with 51% voting in favour, meaning the resolution passed by the slimmest of margins.
The company said it had "engaged extensively" with major shareholders over the remuneration report, and it acknowledged the way the vote went.
"We remain firmly committed to a constructive and appropriate dialogue to fully understand shareholder views as we compete in a global market place," Shire said.
The shareholder ire over the report follows similar protest votes seen in the UK annual general meeting season against BP PLC, Anglo American PLC and Smith & Nephew Group PLC.
Shire shares were down 0.7% to 4,143.00 pence. The company will publish first-quarter results on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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