BAE Systems faces mounting criticism over CEO’s pay to stay By Reuters
LONDON (Reuters) - Britain's biggest defence contractor BAE Systems (LON:BAES) is facing mounting criticism for handing its chief executive an extra 2 million pounds ($2.8 million) to convince him to stay after another bluechip company tried to poach him. Institutional Shareholder Services (ISS) recommended that investors vote against BAE's remuneration report, joining another shareholder adviser group, Glass Lewis, which earlier in April also recommended opposing it. ISS said in its note that the extra pay awards given to BAE Chief Executive Charles Woodburn were "well outside market norms". "Moreover, one-off pay awards to address...
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