THE WHAT? Shareholders of UK-based FMCG manufacturer, Unilever have voted against a remuneration report, according to a report published by the Financial Times, a move that may concern the next CEO, Hein Schumacher who is due to join the company in July.
THE DETAILS Some 60 percent of votes opposed the executive pay plan, which details a base salary of €1.85 million for Schumacher, considerably higher than Alan Jope’s total package of €5.4 million.
THE WHY? The Financial Times reports that shareholders are concerned that not only is the salary above that of UK market peers but is classed as ‘fixed remuneration’, meaning that it is not dependent on performance.