Shareholder advisory group Pirc tells investors to reject ITV executive pay and chairman appointment at AGM

 
William Turvill
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ITV makes popular programmes including Coronation Street, also known as Corrie (Source: Getty)

A shareholder advisory group has recommended investors vote down several motions at ITV’s annual general meeting on Wednesday.

Pensions & Investment Research Consultants (Pirc) has said shareholders should oppose the broadcaster’s executive pay report and policy.

Read more: ITV to hold party leader debate, but guess who isn't taking part?

The group is also opposed to the re-election of chairman Peter Bazalgette.

The report said outgoing chief executive Adam Crozier’s “variable pay is considered excessive at 239 per cent of salary” and that his salary is “in the upper quartile of a peer comparator group”.

Read more: ITV has bought a major stake in the company behind Line of Duty

In opposing the re-appointment of Bazalgette, Pirc said the level of female representation on the board is “not considered adequate and no target has been set to increase this level”.

Fellow shareholder advisory groups ISS and Glass Lewis recommended investors approve all motions.

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