UK - Shareholders have been urged to challenge the Royal & Sun Alliance Insurance Group's board over remuneration payments at tomorrow's annual general meeting.
Proxy voting agency Manifest has raised concerns about a retention and continuity bonus paid to former finance director, Julian Hance.
Upon the completion of Hance’s retention period at the end of December 2003 he pocketed £250,000, before resigning days later.
A Manifest spokesman said the bonus was “unusual” and questioned whether Hance had been committed to the job.
Manifest also questioned whether the bonuses paid to chief executive Andrew Haste were sufficiently tied to performance. He received a total recruitment package of £3.6m in 2003.
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