Business Services Industry
Shareholders of UK Bank Send Angry Message in Boardroom.
Knight Ridder/Tribune Business News, April, 2003
Evening Standard, London Knight Ridder/Tribune Business News
Apr. 24--Small shareholders in Abbey National showed their disgust at excess in the boardroom today, overwhelmingly voting down the directors' remuneration report.
On a show of hands all but five of the 250 shareholders at the annual general meeting rejected the resolution approving boardroom rewards.
Although the veto when proxy votes from institutional shareholders were added to the count, the vote was seen as evidence of growing public frustration with what are seen as rewards for failure.
Abbey is one of the most widely held British companies with 1.8 million small shareholders.
The vote followed angry scenes at the at the group's AGM when shareholders...
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