Barratt Developments steels itself for revolt over pay
- Advisory group Pirc has urged shareholders to protest against pay policies
- It claims boss David Thomas is paid more than peers at other firms
- This, it says, enables him to get much larger bonuses
Barratt Developments
is braced for a clash with shareholders next week over its executive pay packages.
Investors in the FTSE 100 housebuilder have been urged by advisory group Pirc – which makes recommendations for how to vote at annual meetings – to protest against its pay scheme for last year, its future policy and a long-term performance plan.
Concern: Pirc claims Barratt chief executive David Thomas is paid more than his peers at other firms, which enables him to get much bigger bonuses
Pirc claims Barratt chief executive David Thomas is paid more than his peers at other firms, which enables him to get much bigger bonuses.
Pirc added that the long-term performance plan should be over a more extended period than the current three years.
The £4.2 billion company, which completed more than 17,000 homes last year, would not be the only housing group to get a bloody nose at its annual meeting this year.
There was a huge revolt at Vistry over the summer for its pay schemes.
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