UK - Housebuilder Berkeley Group's decision to award a retrospective £1.2m incentive to managing director Tony Pidgley has triggered a massive protest from shareholders.
The award was carried by a vote of 53% to 22% with a further 25% abstaining at the firm’s annual meeting – one of the largest protests against executive pay this year.
The company accepted the policy was not in accordance with best practice and pledged not to make any further retrospective awards.
Partner Insight: In recent years, pensions administrators have seen scheme member engagement increase significantly. The advent of Pensions Freedoms in 2015 and the increased choices faced by members have led to a sea-change in the levels and types of...
The Actuarial Mentoring Programme (AMP) has launched its second year of providing support and guidance to female professionals with an 80% increase in participating organisations.
Former home secretary Amber Rudd is to return to the cabinet as work and pensions secretary after the resignation of Esther McVey.
This week's top stories included proposed draft regulations in a no-deal Brexit which would make scheme investments illegal, and Esther McVey's resignation as secretary of state.