Product details

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Abstract

In February 2018, the Remuneration Committee together with the full Board of Directors of the Scotland-based engineering company The Weir Group had to decide whether to seek a shareholder vote at the upcoming Annual General Meeting in April on a proposal to reform the company's executive remuneration system. The stakes were high: two years earlier shareholders had so roundly rejected a proposal to reform the company's executive pay arrangements that the result had hit the headlines. A new pioneering proposal had been put together-one that, if successful, would not only mark a dramatic change for the company but would also serve as a test case for executive pay reform in the whole United Kingdom. Should they go ahead? How a second failure to get shareholders' approval would be recorded in the chronicle of a company soon to celebrate its 150th anniversary?
Industry:
Size:
> 1 billion; Large
Other setting(s):
2016-2018

About

Abstract

In February 2018, the Remuneration Committee together with the full Board of Directors of the Scotland-based engineering company The Weir Group had to decide whether to seek a shareholder vote at the upcoming Annual General Meeting in April on a proposal to reform the company's executive remuneration system. The stakes were high: two years earlier shareholders had so roundly rejected a proposal to reform the company's executive pay arrangements that the result had hit the headlines. A new pioneering proposal had been put together-one that, if successful, would not only mark a dramatic change for the company but would also serve as a test case for executive pay reform in the whole United Kingdom. Should they go ahead? How a second failure to get shareholders' approval would be recorded in the chronicle of a company soon to celebrate its 150th anniversary?

Settings

Industry:
Size:
> 1 billion; Large
Other setting(s):
2016-2018

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