Old Mutual shareholders reject CEO’s R300m pay plan
A potential R300 million long-term incentive for Old Mutual CEO Jurie Strydom has sparked a shareholder backlash, with investors voting against the insurer’s remuneration implementation report at its annual general meeting (AGM).
Old Mutual said the ordinary resolutions to approve the remuneration policy and the remuneration implementation report each received majority shareholder support.” The proposed incentive forms part of Old Mutual’s long-term remuneration framework, which was developed by the board’s remuneration committee to reward executives for delivering sustained shareholder value.
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