Pru expected to back Brown on pay
Wednesday 10 May 1995
The Prudential is almost certain to back British Gas management at this month's annual meeting by voting against a shareholder's resolution demanding that the company reconsider the £475,000 pay deal given to its chief executive, Cedric Brown. Sources say that although no formal decision has been made, it is unlikely the Pru will vote against current management. The news comes as Pensions Investment Research Consultants, which advises pension funds on corporate governance issues, steps up its campaign to get support for its resolution on Mr Brown's pay. PIRC has written to major shareholders saying the company should revise its pay policy so it falls in line with what PIRC calls best practice
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