Shareholders in three listed companies have been urged to vote against their pay reports amid investor unease over potentially excessive remuneration deals for top executives.
Pirc, the proxy voting adviser, has recommended that shareholders in Taylor Wimpey, the FTSE 100 housebuilder, Royal Bank of Scotland and Credit Suisse oppose remuneration reports at their annual meetings next week.
In a note yesterday, Pirc said that it objected to “excessive” bonus deals relative to base pay at two of the companies.
