May 8, 2020 / 3:50 AM / 17 days ago

AMP shareholders vote down resolution on executive pay at AGM

May 8 (Reuters) - Australia’s AMP Ltd on Friday said more than two-thirds of shareholders who voted at its annual general meeting opposed a resolution on executive pay.

The country’s biggest wealth manager said 67.25% of all votes cast at the AGM were against its remuneration report, a result that comes after the company in February increased Chief Executive Francesco De Ferrari’s short-term incentive to a whopping 200% of his base salary. (Reporting by Shashwat Awasthi in Bengaluru Editing by Shri Navaratnam)

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