Institution Theme Category Discussion Questions
  • J.P. Morgan
  • Governance
  • Compensation
What elements of compensation do not align with best market practice and how is the Compensation Committee addressing these conerns?
Company Year Market Source Link
Greencore Group 2020 UK Environmental, Social and Governance report: UK and European Equities, First quarter 2020 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

Related Details

  • Category'
  • Management Proposal
  • Resolution
  • Approve Remuneration Policy
  • Vote
  • Against
  • Rationale
  • Concerns around pension
  • 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