Source: “This is money” website 28th April 2016
In one of the most significant results of the shareholder spring revolt so far, engineering firm Weir Group lost a plan to bring in a lucrative share deal for its top executives.
The FTSE 250 firm, which has been hit by the tumbling oil price and cutbacks, will now operate under the pay policy which was approved by shareholders in 2014 and which runs until next year.
Drug giant Shire was the other big name to suffer a significant revolt, at its annual meeting in Dublin. Some 49.5 per cent of shareholders voted against its pay report where chief executive Flemming Ørnskov was awarded a 25 per cent pay rise to nearly £15million for 2015.