Investor revolt hits GoCompare

THE company behind price comparison website Go Compare suffered a shareholder revolt over its boss’s £1.6m pay packet.

More than a quarter of voting Goco shareholders opposed the pay packet for chief executive Matthew Crummack at the annual meeting. The 48-year- old saw his pay rise from £744,000 in 2017 to £1.6m last year. This included a £400,000 salary, £44,000 in benefits such as a car allowance, £32,000 in pension contributions and more than £1.1m in bonuses.

He missed targets for increasing profits and revenues but Goco’s pay committee decided to flout its policies and award him the bonus regardless. Last night Goco said despite consulting with investors ‘we note that a number still felt unable to support us at the AGM’.