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ABI response to Bellway AGM

Responding to the news that Bellway lost the vote on its Remuneration report today, Peter Montagnon, Director of Investment Affairs, ABI said

"This is a very clear message that there must be a proper link between reward and performance, even in a sharp economic downturn.

"It is right that Bellway should consult with shareholders on its policy review. More broadly, shareholders expect all companies to be sensitive to the need for bonuses to be paid only if stretching targets are met.

"Remuneration consultants, who advise companies, should be particularly alert to the views of shareholders in this regard."

Last updated 01/07/2016