NatWest avoided an embarrassing shareholder rebellion last week during the first annual meeting since the bank returned to majority private control despite bringing in a controversial pay policy that could net its chief head executive Alison Rose £5.2m a year.
The Guardian reports changes to the restricted share plan and a new bonus scheme, due to come into full effect in 2023, will allow Rose to earn a quarter more in bonuses than under the current pay policy.
She was paid almost £3.6m in 2021.
Mary Barra, boss of car giant General Motors, earned $29.1m last year, making her the highest-paid CEO of the “Detroit Three”, ahead of Jim Farley of Ford, who earned $22.8m, and Carlos Tavares of Stellantis, who got 21.bm, says The Detroit News.
Barra was paid $23.7m in 2020.
Her base salary rose from to $2.1m, and she received a $7.6 million General Motors incentive-based bonus, up from $3.8m; the value of her stock awards rose from $13m to $14.6m for 2021.
Ocado’s chief executive Tim Steiner faced giant shareholder backlash over an “outrageous” pay plan that could hand him up to £100m over five years, says The Mail on Sunday.
For that to happen, Ocado’s share price must triple under the terms of a value-creation scheme.
Steiner missed his March target and the £20m payout, only for the firm to recommend extending the project until 2027.
Proxy advisers Glass Lewis and ISS urged investors to reject the plans.
Kris Paterson is a writer for WhatJobs.com
