Shareholder spring

May 2012
Evening Standard;5/8/2012, p14
THERE is a new and welcome bolshiness on the part of shareholders voting on executive pay who are refusing to approve pay deals that are not backed by performance. The latest casualty of the movement is Andrew Moss, group chief executive of Aviva, who has resigned after shareholders rejected the company's executive pay deal. This activism is long overdue. Many of the institutional investors, notably the pension funds, that are voting on unjustified pay packages are funded by the public, who resent them. And it's far better that top executive pay is determined by investors than dictated by government.


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