Guardian – Fidelity, one of the biggest investors in the stock market, has spoken out against “over-generous” and “over-complex” boardroom pay and called for shareholders to be given extra powers to vote down cash and share deals.
In a move that supports the government’s plans to hand shareholders more rights to veto pay deals, Fidelity argues that remuneration reports should be backed by 75% of investors – compared with 50% now – and the vote should take place before any bonus is handed to a director.
