July 19, 2018 / 1:17 PM / 2 months ago

Royal Mail shareholders reject senior executives' pay package

July 19 (Reuters) - Britain’s Royal Mail Plc said on Thursday that its shareholders rejected a pay package for its senior executives.

The post and parcels company said about 70.17 percent votes cast by shareholders at the annual meeting were against the resolution on the director’s remuneration report.

The company has also faced a backlash from shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis over a near 17 percent jump in new CEO Rico Back’s salary to £640,000 compared to previous boss Moya Greene, according to British newspapers. (Reporting by Arathy S Nair in Bengaluru Editing by Alexandra Hudson)

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