The myth of shareholder stewardship: how effectively do shareholders oversee FTSE 100 CEO pay?

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Walsh, Ashley
High Pay Centre
Date of publication
2 May 2019
Management & leadership: including strategy, public sector management, operations and production, Trends: economic, social and technology trends affecting business
Business and management
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This briefing examines the voting patterns of shareholders in FTSE 100 companies at Annual General Meetings (AGMs) between 2014 and 2018, ahead of the 2019 AGM season. Following the introduction of the Business and Regulatory Reform Act (2013), these marked the first full five years of the ‘say on pay’ regime, under which companies are required to put their future remuneration policy to a binding shareholder vote at their AGM at least once every three years.

It finds that every single FTSE 100 company pay policy put to AGMs was approved by shareholders.

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