ISS urges revolt over Amundi executive pay - Reports

Criticises transparency

Influential proxy adviser Institutional Shareholder Services (ISS) has urged Amundi shareholders to vote against the CEO's compensation deal at the meeting next week.

ISS said Amundi has demonstrated a lack of transparency with regard to the bonus targets of chief executive Yves Perrier, who received a 16% salary rise to €1m last year, as well as a €2m bonus, according to the FT. The proxy adviser, which previously took aim at executive compensation at GAM, said Amundi shareholders "have a very limited view on the elements that led the board to consider that these [bonus] criteria were met." However, Amundi has dismissed ISS's complaints, arguing full disclosure of the pay policy could be found on its website. Amundi also argued that the chief-t...