LONDON (dpa-AFX) - Home improvement retailer Kingfisher Plc (KGF.L) said that about 24% of shareholders voted against the level of director pay.
At the annual general meeting, resolutions 1 to 17 were passed as ordinary resolutions; resolutions 18 to 21 were passed as special resolutions, the company said.
The company said, 'At Kingfisher we believe in proper alignment between pay and performance and our Remuneration Policy is designed to achieve this over the long term while incentivising the delivery of the ONE Kingfisher strategy....The remuneration arrangements in the year are in line with the Remuneration Policy approved at our 2016 AGM. However, despite a strong vote in favour, the Board acknowledges that some shareholders did not support the Resolution.'
'The views of our shareholders are of paramount importance to the Remuneration Committee, and therefore the Committee intends to consult further with shareholders to understand the specific rationale for any votes against our report,' the company said.
Copyright RTT News/dpa-AFX