Criticism like a ton of bricks
Shareholder subsidence at housebuilder Persimmon. In a knife-edge vote on the company’s egregiously generous boardroom remuneration report, 48.5 per cent of votes cast were for throwing it out.
Just 51.5 per cent were in favour, in one of the most pyrrhic victories the City has seen. Persimmon has only itself to blame for chief executive Jeff Fairburn’s stratospheric financial rewards in particular. The company has raised the bar on being arrogantly tin-eared.