The publication of the bwin.party annual report and Ladbrokes' AGM shines a spotlight on executive pay with employee resentment bubbling.
There were rumblings of discontent at bwin.party’s HQ upon the publication of the company’s annual report. The main bone of contention was chief executive Norbert Teufelberger’s pay packet of £1,727,902.
Over at Ladbrokes Annual General Meeting, shareholders were in revolt with an estimated 40 per cent refusing to sanction a payoff for departed boss Richard Glynn, according to initial reports in The Guardian. In the final vote 30.23 per cent of shareholders voted against the remuneration committee’s report. No other action at the AGM received less than 91 per cent support with the vast majority receiving over 99 per cent approval.