Institution Theme Category Industry
  • J.P. Morgan
  • Governance
  • Compensation
  • Food Product
Company Year Market Link
Greencore Group 2020 N/A https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/institutional/communications/lux-communication/jpmorgan-investment-stewardship-voting-record.pdf

Pension provisions for the incumbent executives remain significantly higher than is typical in the UK, and are increasingly out of step with the market’s direction of travel and accepted best practice. Despite engagement, the company has not committed to bringing down the level of pension contributions (currently at 35% for the CEO). In the event, 31.5% of shareholders voted against the Policy, and the board has committed to consult with shareholders and publish an update within six months. Greencore is one of our Focus List companies for engagement this year

Details

  • Proponent
  • Management
  • Resolution
  • Approve Remuneration Policy
  • Vote
  • AGAINST
  • Rationale
  • N/A
  • Details
  • J.P. Morgan Asset Management voted against the binding Remuneration
    Policy at Greencore Group…Pension provisions for the incumbent executives remain significantly higher than is typical in the UK…the company has not committed to bringing down the level of pension contributions (currently at 35% for the CEO)…31.5% of shareholders voted against the Policy