BT has been hit by a significant shareholder rebellion over its outgoing chief executive Gavin Patterson’s £2.3 million pay packet. At its annual meeting in Edinburgh, 34.2 percent of investors voted against the telecoms group’s remuneration report, including the payout to Patterson. The AGM result will lead to BT being placed on a public register of firms in which more than 20 percent of shareholders have voted against an executive pay resolution. BT said: “We are naturally disappointed with the lower level of support received for our remuneration report for the year ending 31 March 2018.” It added that it was mostly related to the annual bonus payment to Patterson. The company said it had been talking to its main shareholders over the past two weeks to discuss their concerns and vowed to do more to listen to investors.

Posted by

Guardian