About 20% of independent investors failed to back scheme that handed chairman more than £23m last year

House builder Berkeley Group has been rebuked by shareholders over its pay policy, with about a fifth of independent investors failing to back a scheme that handed the firm’s boss more than £23m last year.

About 14.5% of shareholders directly opposed the remuneration report at the annual meeting in Stoke D’Abernon, Surrey, with a further 4% withholding their vote. However, if the directors’ near 10% stake in the builder is excluded, 20% of shareholders declined to support the plan that led to chairman Tony Pidgley being paid £23.3m.

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Source: The Guardian Circular Economy RSS