Standard Life CEO takes £600k pay cut on fears of shareholder revolt

Ahead of next week's AGM

Standard Life CEO Keith Skeoch has cut his pay by more than £600,000 in a bid to prevent a shareholder revolt over senior remuneration packages at next week's AGM.

According to The Times, Standard Life said Skeoch (pictured) has reduced his potential bonus to £2.8m, equivalent to 400% of his £700,000 a year salary, rather than 500% as previously agreed. The move comes ahead of the company's AGM next week, which was expected to prompt a shareholder revolt over Skeoch's bonus. It follows a series of shareholder actions against senior pay rises known as the 'shareholder spring', with Royal Dutch Shell also facing a possible revolt over plans to give its CEO Ben van Beurden a multi million-pound bonus despite an 80% plunge in profits. Reckitt Ben...