Unilever to freeze CEO pay until 2026 after shareholders reject remuneration report

Unilever to freeze CEO pay until 2026 after shareholders reject remuneration report

THE WHAT? After Unilever’s shareholders rejected its remuneration report in May, and following meetings with a series of its largest investors, the UK-based FMCG giant has determined to freeze CEO Hein Schumacher’s pay.

THE DETAILS Schumacher’s salary will be stuck at €1.9 million until at least 2026, according to a report published by Bloomberg.

THE WHY? Investors are frustrated by the manufacturer of Dove’s ‘lackluster performance’, Bloomberg asserts, and shareholders believe that the new CEO’s elevated salary, which is €0.3 million higher than predecessor Alan Jope’s, should have risen steadily, rather than jumped so dramatically on appointment.

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