Why TFG's pay policy remains a heated issue
At its annual meeting, 30% of investors vote against remuneration strategy
Just more than 30% of TFG shareholders remained unconvinced by 2016’s engagement with the board over the group’s remuneration policy and voted against it at Wednesday’s annual general meeting. Although a substantial improvement on the hefty 47.3% vote against the remuneration policy in 2016, the 30% remains level of opposition for concern. At the 2015 meeting, 23.35% of shareholders voted against the remuneration policy. Group CEO Doug Murray said on Thursday the latest vote was regrettable, but it represented a substantial improvement on 2016. "We make a great effort to engage with all our shareholders, we try get feedback on the remuneration report before it’s finalised," said Murray, who added that not all the big shareholders engage with the board.He said ahead of the annual meeting, the remuneration committee had been encouraged by the positive response it had received to the 2017 policy. In the group’s 2017 annual report, remuneration committee chairman Eddy Oblowitz described...
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