SAB Miller to face protest

Global brewer SAB Miller was yesterday hit with an alert by shareholder advisory group Pirc , urging investors to reject the company’s “excessive” levels of executive pay at this Friday’s annual meeting. Pirc yesterday said bonuses of 500 per cent of base salary were too high, while the minimum performance targets that are attached to the incentive schemes not stretching enough. The brewer’s donations to US political parties also came under fire from Pirc, which branded them an inappropriate use of shareholders’ money.