Compass Group Directors' Remmuneration Report Passed With Low Vote Count

By Anthony O. Goriainoff

Compass Group PLC said late Thursday that the resolution to adopt the directors' remmuneration report received a low vote count but was still passed.

The U.K. catering contractor said the resolution received 70.32% of all votes cast.

The company said it acknowledged a notable minority didn't vote for the resolution and that when engaging with shareholders prior to the AGM it was apparent investor opinions on the resolution were mixed. It added that a minority of shareholders were "influenced" by an influential voting advisory body which opposed the resolution and that their concerns primarily related "to the increase in long-term incentive opportunity as part of the Remuneration Policy that was successfully approved by shareholders at the 2022 AGM."

"We recognize that executive pay is a topic which attracts strong and often differing opinions amongst investors and we will therefore continue to seek an approach which is measured, fair, and supports the sustainable delivery of the Company's long-term strategy," the company said.

All other resolutions were passed at its annual general meeting, the company said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

February 09, 2023 13:34 ET (18:34 GMT)

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