Drive for mass vote on exec remuneration

Tim Wallace
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ION savers and ISA holders are today being urged to contact their fund managers and urge them to vote down excessive pay packages.

The campaign by FairPensions argues that institutional investors have failed to stop “spiralling pay awards at FTSE 100 companies,” and that activism from savers could be the best way to influence pay at the top.

“Until now scrutiny of high paying companies has been left to big investors who have shown themselves reluctant to take a strong stance on spiralling pay awards, said campaign boss Catherine Howarth.

“Now the public has a chance to influence this debate and have to their say on pay.”

The government is seeking to expand shareholder powers over executive pay, and FairPensions now wants increasing scrutiny of shareholders themselves.

“Savers deserve to know how their pension and ISA providers vote on issues that matter to them,” said Howarth.