Outsourcer Interserve could be hit by shareholder backlash after advisory group criticises exec pay
Interserve could be hit with a shareholder revolt over the pay of its chief executive Debbie White at its annual general meeting (AGM) this week.
Shareholder advisory group Glass Lewis has criticised White’s bonus which represents 125 per cent of her salary, the most she could have received under Interserve’s remuneration system.
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White was paid £525,900 for the four months between her joining the company in September and the end of the year.
Her package included a salary of £216,667 and a bonus of £270,089,
A spokesperson for Interserve rejected the criticism saying White deserved her bonus after hitting performance goals.
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“Interserve’s remuneration committee set very specific strategic bonus objectives for Debbie White which were met. These objectives were designed to focus on critically important tasks essential for ensuring stability and starting the process of rebuilding the business,” they said.
Interserve secured a £200m lender rescue package in March after a string of profit warnings in 2017.