Legal & General finds outbursts against sky-high pay, incompetent auditors and a shortage of women in boardrooms
Legal & General Investment Management voted against a record number of companies last year
Legal & General Investment Management voted against a record number of companies last year when City shareholders put their muscles to the test.
The savings group focused on companies with sky-high pay, incompetent accountants and a lack of women in the boardroom.
The company – which provides more than £ 1 trillion savers – voted against the reappointment of 3,864 directors in 2018, an increase of 37 percent over the previous year.
It focused in particular on inflated salary packages, with more than one third of the remuneration deals being voted at AGMs.
LGIM also focused on companies above their accountants after a scandal that prevented them from predicting the collapse of outsourcer Carillion.
It rebelled against the appointment of 326 auditors around the world, an increase of 37 two years earlier.
Sacha Sadan of LGIM said: & # 39; The increased figures reflect the higher standards that we expect companies to adhere to. & # 39;