LONDON (Alliance News) - Shareholders of interdealer broker TP ICAP PLC have rejected new executive pay plans as too "aggressive", The Telegraph reported on Saturday.
Investors told the TP ICAP board to reduce the size of the proposal and increase the difficulty of bonus targets, according to the newspaper, with one shareholder labelling the plan as "pretty aggressive proposals".
TP ICAP, where chief executive John Phizackerley took home GBP2.3 million last year, is one of a number of UK firms, including Thomas Cook Group PLC and Imperial Brands PLC, to face recent shareholder rebellions over executive pay, noted the Telegraph.
http://www.telegraph.co.uk/business/2017/02/11/broking-giant-tp-icap-tries-head-rebellion/
By Adam Clark; adamclark@alliancenews.com
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TP ICAP (TCAP)
Imperial Brands (IMB)
