Yell investors rebel against pay at AGM

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The Independent Online

Directors of the struggling British yellow pages publisher Yell survived a rebellion over their pay, when 29 per cent of shareholders voted against approving their remuneration.

The vote was part of a gathering trend of frustration over high corporate payouts during the recession. The advisory firm Pirc had urged shareholders to reject Yell's remuneration report, saying it considered awards made during the year to be excessive. Yell yesterday reported a 10 per cent decline in revenues for the quarter just ended.