Bosses’ lobby is joined by investor groups in calling on BG to reassess £25m pay deal following announcement of Shell takeover
The Institute of Directors has warned BG group it risks a new row with its shareholders if it presses ahead with a deal to pay new boss Helge Lund £25m for what amounts to a caretaker role while Royal Dutch Shell completes its takeover of the company.
The employers’ lobby group was joined by the National Association of Pension Funds (NAPF) and shareholder advisers Pirc and Manifest in expressing fresh concerns about Helge Lund’s pay deal after BG agreed to be bought by Shell for £47bn. The interventions set up BG for a tense month before its annual general meeting on 9 May.
Where is the value for shareholders for this amount of time of service from Mr Lund?