Interserve sees shareholder revolt over chief’s pay

Aaron Morby 9 months ago
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Interserve has become the latest firm to see investor protests over top executive pay.

Chief Executive Debbie White received maximum bonus for first four months of turnaround work at struggling group

More than 17% of votes cast at the firm’s annual general meeting yesterday were against executive pay packets for last year.

Advisory firm Glass Lewis had recommended a vote against chief executive Debbie White’s £525,900 salary and benefits package in the four months since joining the company at the start of September to the end of 2017.

Her package included a salary of £216,670 and a bonus of £270,000 – the maximum offered under the senior executive bonus scheme which can pay out up to 125% of salary.

The rest of her pay packet covered pension contributions and other benefits.

Mark Whiteling, who joined as finance director a month later on 1 October, earned £101,250 and a maximum bonus payout of £126,562 taking his total package including total taxable benefits and pension payments to £246,430 over three months.

White’s salary in 2018 will be £680,000, while Whiteling’s will be £405,000.

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