Trinity Mirror's High Executive Pay Criticized - Newspaper
March 12 2012 - 3:07AM
Dow Jones News
Four leading investors in Trinity Mirror PLC (TNI.LN) have
expressed disquiet at the high levels of executive pay at the media
company, reports The Daily Telegraph Monday, citing an unnamed
shareholder.
They are particularly unhappy that Sly Bailey, the chief
executive, was paid GBP1.47 million last year, plus a pension
contribution of GBP248,000, at a time when the company's share
price has drifted, the report says.
Four leading shareholders, who own between them 42% o f the
company--Schroders PLC (SDR.LN), Aviva Investors, Standard Life PLC
(SL.LN) and Legal & General Group PLC (LGEN.LN)--have met with
Trinity's chairman-elect David Grigson and expressed the view that
Bailey's pay needs to be cut, the report says.
One unnamed shareholder told the newspaper: "It is excessive by
most standards, let alone a company with a market value of about
GBP100 million."
Newspaper Web site: http://www.telegraph.co.uk
-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320
Reach (LSE:RCH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Reach (LSE:RCH)
Historical Stock Chart
From Apr 2023 to Apr 2024