PROTEST AT BIG PAY DAY
BT faces a possible shareholder revolt next week over boss Gavin Patterson’s bumper pay package.
Lobby group PIRC (Pensions & Investment Research Consultants) is urging investors to vote against Patterson’s £1.3million bonus and more than £1m salary when the telecoms giant is slashing jobs and its share price has tumbled.
In truth it would be a protest vote, as Patterson announced earlier this month he was quitting.
PIRC has also called on shareholders to oust no less than five of BT’s non-executive directors at its annual general meeting on July 11 for each missing a number of board meetings.
Bigwigs criticised include Iain Conn, who is also chief executive of British Gas owner Centrica.