BT Group shareholders reject executive pay report

News General United Kingdom 11 JUL 2018
BT Group shareholders reject executive pay report

BT Group shareholders have voted against the company's remuneration report, including the GBP 3.2 million pay package of outgoing CEO Gavin Patterson, reports The Guardian. The pay-out to Patterson includes a GBP 1.3 million bonus for the year to March, and was confirmed in May weeks after he announced plans to cut 13,000 jobs. 

At the company's AGM in Edinburgh, over one third (34.2%) of investors voted against the remuneration report. This will result in BT being put on a public register of companies in which over 20 percent of shareholders have rejected an executive pay resolution. BT announced in June that Patterson would be stepping down from his role as CEO later in 2018. 

 

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