Shareholders in shipbroker Clarkson are not happy at the massive payouts to top management.
The FTSE 250 company suffered an embarrassment at its annual meeting on Friday, with 26% of the votes cast going against the remuneration report and its remuneration policy.
Andi Case, CEO of the world’s largest broker, received pay and bonuses totalling £3.7m last year, of which £2.9m was his annual bonus. Shareholders were angry that Case’s bonus was 552% larger than his basic salary.
Clarkson in a release said it has engaged with major shareholders in order to “fully understand” their concerns.