Abrdn to vote against Centrica's remuneration report
Reuters
Published Jun 01, 2023 17:58
(Reuters) - British asset manager Abrdn said on Thursday that it would vote against Centrica Plc (LON:CNA)'s remuneration report at the British Gas owner's annual general meeting.
The company said the long-term incentive plan grant awarded to CEO Chris O'Shea in 2020 was not "meaningfully reduced to reflect the depressed share price during Europe's initial response to the Covid-19 pandemic".
Abrdn also added that it does not regard the CEO's annual bonus of 1.42 million pounds ($1.79 million) as "reflective of the impact of forced prepayment installations on vulnerable customers during the ongoing cost of living crisis and the current ongoing probe by Ofgem".
Centrica declined to comment. Its annual general meeting is scheduled for June 13.
($1 = 0.7923 pounds)
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Written By: Reuters
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