(This May 25 post has been updated to reflect AGMs which took place on Friday and to include graphics)
We’ve just witnessed a stirring spectacle of shareholder empowerment during the British AGM season. Haven’t we?
Well…. I’ve pulled together some numbers on remuneration resolutions from the 63 FTSE100 AGMs we’ve seen so far this year which shows that the average protest vote against pay did indeed go up from 2011 to 2012….
Not quite the man-the-barricades spirit evoked by talk of a ‘Shareholder Spring’.
The average vote against executives’ pay deals was 8.2% compared to 8.0% last year for the companies that now make up the FTSE100.