The Scotsman

Criticism like a ton of bricks

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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.

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