Revolt over Mr £131m

THE Persimmon boss dubbed ‘Mr £131m’ over the potential size of his bonus faces a shareholder revolt at the firm’s AGM this week in a backlash over fat cat pay.

The housebuilder has faced a barrage of criticism over the incentive plan that would have seen about 130 managers, including chief executive Jeff Fairburn, share a windfall of close to £800m. Investment advisers Glass Lewis is now urging shareholders to humiliate the board by voting against the remuneration report at the AGM on Wednesday.