Search

Balfour Beatty boss’ bonus rejected

Balfour Beatty construction site. Picture: Newscast/Balfour Beatty

Balfour Beatty construction site. Picture: Newscast/Balfour Beatty

Balfour Beatty

Balfour Beatty shareholders have flexed their muscles against the construction company’s board after rejecting its remuneration policy.

More than 20% of shareholders voted against a proposal to bump its boss’ annual bonus up to 150% of his salary from 120% at the company’s AGM on Thursday.

Institutional Shareholder Services had recommended investors vote against the pay policy, calling the level of increase for chief executive Leo Quinn “inappropriate”.

A total of 22.82% of shareholders rejected the remuneration proposal.

In a report of the AGM poll results published on its website, Balfour Beatty, which has a regional office in Swaffham, said: “The group... believes the remuneration policy changes are necessary, appropriate and in their best interests.”

The group’s pre-tax profits for the year ending December 31 2015, its last filed accounts, were £212m, up from a £157m loss in 2014.

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Insight

Will the cost of living continue to outstrip the rise in my pension, asks our reader. Carl Lamb of Almary Green responds.

After laying derelict for more than a decade, an RAF base in north Norfolk is now a growing business hub. BETHANY WHYMARK went to meet some of its tenants.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100