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Unilever shareholders have rejected the consumer goods company’s pay plan, with almost 60 per cent of votes at its annual general meeting cast against its remuneration report.
The revolt follows investor disquiet over a lacklustre share price at the FTSE 100 company that was heightened by a botched £50bn bid for GSK’s consumer health business.
Unilever has already said that its chief executive Alan Jope will stand aside in July. He is being replaced by Hein Schumacher, head of Dutch dairy co-operative FrieslandCampina.
The company said it was “disappointed” by the advisory vote and said: “We are committed to shareholder engagement and will consult over the next few months to listen carefully to feedback and determine any next steps.”
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