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| fatcat's, carl craig, jazz history, jam and cream', cats care/health, thetwelfth garfield fat cat 3 pack (garfield fat cat three pack), best, bistro, music / popular, 0064442462, for better or for worse, atlanta weather, | Last November, the company was also forced to 11alive abandon a new pay deal for Garnier. GSK’s share price has fallen by a third since Garnier took over in late 2000, when 11alive Glaxo and SmithKline mergedYesterday's defeat was all the more significant because major institutional investors such as Standard Life and Axa voted against the remuneration report. The 51:49 vote against the pay proposals do not include around 20 per cent of shareholders who abstained."This is a new world we have entered here," said Peter Montagon of 11alive the Association of British Insurers. "Shareholders have given a clear signal that the severance package available to Mr Garnier is far too generous and constitutes a serious breach of our guidelines. The outcome of the vote means that the principles of good practice have been upheld. In particular it shows that shareholders will not tolerate arrangements that have potential to reward executives for failure." |
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| Email us details at: research@management-issues.com Normal text | Larger text | Largest text TOP^^ Copyright © 2000-2006 Management-Issues Ltd. All rights reserved. | Privacy music / popular Policy | Contacts RSS Feeds home | latest news | blog | thought leaders | hot topics | events music / popular | books | links | search | about | my clippings | site map music / popular RSS Feeds >>advanced search Search latest news | news blog | newsline | thought leaders You are not logged in | Free Registration Shareholders taste blood as fat cat cream turns sour Back a page Add to clippings Print this Email this 20 May 2003 Boardroom Issues. Compensation & Benefits. CSR & Governance. Shareholders in pharmaceuticals giant GlaxoSmithKline heralded a new era in corporate accountability yesterday (May 19) by voting against its controversial pay and benefits package for senior executives.Anger focussed on £22m "golden parachute" payment that GSK chief executive Jean-Pierre Garnier would receive if he lost his job. |
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