Shareholders will be advised to vote against RBS’s pay policy and the reappointment of its chairman at the bank’s AGM this week.
RBS. Photo: Elliott Brown, Flickr.
RBS executives can expect a tough time this week at its AGM, with shareholders advised to vote against the reappointment of chairman Howard Davies and to oppose the company's remuneration policy.
Shareholder advisers PIRC has said the reappointment of Davies should be opposed because of a lack of diversity on the bank's board.
The Scotsman reports PIRC as saying that there is “no clear commitment to increase overall gender diversity at board level”.
There are also misgivings about pay at RBS, which remains 72% owned by the public. The issue centres on the bank's proposal to remove its "pro rating" policy, meaning long-term inc
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