Outsorcer Mitie faces backlash against generous bonus plan for boss Phil Bentley at company company’s annual meeting
Outsourcer Mitie faces opposition to a generous bonus plan for boss Phil Bentley at the company’s annual meeting next week.
Bentley will receive up to £5.7 million if he achieves certain performance targets over the next three years. If he were to receive the full amount, that would amount to 640 percent of his annual salary of £900,000.
Backlash: The bonus plan has been drawn up as part of Mitie’s £271 million takeover of rival Interserve’s facilities management arm
The bonus scheme was drawn up as part of Mitie’s £271 million acquisition of competitor Interserve’s facilities division last year.
Glass Lewis and Institutional Shareholder Services — influential advisory groups that issue reports with guidelines on how they think people should vote at corporate meetings — have urged investors to reject the plan.
Thousands of Mitie employees have toiled on the Covid frontline for 16 months – often with low pay.