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[July 20, 2014]
On the defensive
(Guardian (UK) Via Acquire Media NewsEdge) The bosses of TalkTalk and the brewer SABMiller also face shareholders' anger over boardroom pay this week.
SABMiller will have to defend pay plans for its chief executive, Alan Clark, at Wednesday's annual meeting. The shareholder advisory group Pirc has advised investors to oppose the group's remuneration policy. It argued that the maximum potential payout for Clark was far above the acceptable limit of 200% of his salary.
Also on Wednesday, TalkTalk will come under fire for its governance and executive pay. Pirc called on the broadband and telecoms group's shareholders to vote against both the remuneration report and future pay policy. It said rewards for executive directors looked excessive, with the firm's boss, Dido Harding, receiving variable pay equal to 1,255% of her base salary last year. That included a bonus and long-term incentive award granted in 2010, 40% of which vested the same year. Julia Kollewe (c) 2014 Guardian Newspapers Limited.
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