Sky News has learnt that International Airlines Group (IAG) is braced for a substantial rebellion at its annual meeting next month after Glass Lewis, one of the major proxy voting agencies, recommended that investors vote against its pay policy
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While IAG adhered to this level of discount last year, it is now seeking to increase the RSP grant again.IAG benefited from hundreds of millions of pounds of taxpayer support during the COVID-19 crisis, while it also suspended dividends and raised funds from the sale of new shares to investors. Recent reports suggested that Sean Doyle, BA's relatively new chief executive, was under intense pressure to improve the carrier's performance, although he is unlikely to leave in the short term, according to industry executives.
"He did not receive his long-term incentive and his 2020 bonus, [and he] decided to forego his £900,000 bonus in 2021 in addition to undertaking voluntary salary reductions in 2020 and 2021.
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