SHIPBROKER Clarkson is facing a shareholder revolt over the hefty pay packet of its chief executive
The
Case, who has led the firm since 2008, is one of the most highly-paid senior executives in
Shareholder advisory groups Pirc and Glass Lewis have urged investors to reject the businessman's remuneration at the company's annual general meeting on Thursday. It marks the eighth consecutive revolt against the Case's pay.
The showdown comes amid a growing row in
Many senior figures, however, argue high pay is necessary to stop top-level talent heading elsewhere.
Dr
The policy was renewed at the firm's AGM last year with just over 56 per cent shareholder support. "While this level of support is less than we would ideally like, the majority of our shareholders continue to support us in securing the retention and incentivisation of executives who have consistently delivered exceptional returns for shareholders since 2006," Miller wrote.
Clarkson reported a record fullyear profit of £109.2m in March, up 8.2 per cent on the prior year, while revenue rose to £639.4m, up from £603.8m.
Clarkson's share price is up over 25 per cent year-to-date.
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