Shareholders bite back at bosses
James Moore is the Independent's Associate Business Editor and writes the Outlook City comment column from Tuesday to Friday. He also has a keen interest in disability issues and when not attempting to further injure himself playing wheelchair basketball.
Friday 10 May 2013
The under-fire transport company National Express yesterday endured a significant shareholder rebellion over bosses' pay.
The group, which has been facing criticism over its treatment of US staff wanting union recognition, saw 28 per cent of shareholders oppose its remuneration report, with nearly 5 per cent abstaining. The company also saw 5 per cent of shareholders either vote against or abstain on its annual report.
National Express has been urged to tighten up policy and monitor US managers more closely, while reporting back to shareholders over union rights. The company, the second biggest operator of the iconic yellow school buses in the US and Canada, defended itself, saying it has a "robust policy" on employees and their rights.
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