An influential adviser to big investors has recommended shareholders stand up against "excessive" executive pay at Franklin Templeton at the firm's annual meeting next week.
Pensions & Investment Research Consultants (PIRC), a firm that advises investors with combined assets of more than £1.5trn, has issued a document recommending how pension funds and asset managers should vote at Franklin Templeton's upcoming meeting on 15 February, according to the Financial Times. The consultant has highlighted a "poor balance of rewards" in the firm's executive pay package and described the annual cash rewards received by top management as "excessive", urging shareholders to vote against a cash bonus received by chief executive Gregory Johnson. BlackRock calls for F...
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