Barratt Developments is braced for a clash with shareholders next week over its executive pay packages.
Investors in the FTSE 100 housebuilder have been urged by advisory group Pirc – which makes recommendations for how to vote at annual meetings – to protest against its pay scheme for last year, its future policy and a long-term performance plan.
Pirc claims Barratt chief executive David Thomas is paid more than his peers at other firms, which enables him to get much bigger bonuses.
Concern: Pirc claims Barratt chief executive David Thomas is paid more than his peers at other firms, which enables him to get much bigger bonuses
Pirc added that the long-term performance plan should be over a more extended period than the current three years.
The £4.2 billion company, which completed more than 17,000 homes last year, would not be the only housing group to get a bloody nose at its annual meeting this year.
There was a huge revolt at Vistry over the summer for its pay schemes.
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