The report from Institutional Shareholder Services (ISS) states that the payment of a six-figure bonus to CEO Euan Sutherland was inappropriate, as it was not aligned with the company's performance or the shareholder experience.
ISS also expressed concerns about the overall opportunity of quantum and the positioning of executive salaries relative to peers.
Glass Lewis, the other major proxy adviser, recommended a vote in favour of the remuneration report, while IVIS issued an amber-top alert.
Saga has seen its shares slump by a further 43% during the last year, and the company's AGM is next Tuesday.
A spokesperson for Saga stated that executive remuneration is awarded in line with the group's remuneration policy and was overwhelmingly approved at last year's AGM.
LONDON DAILY ARCHIVE
Saga Investors Urged to Reject Boardroom Pay Report Ahead of AGM
Saga investors are being urged to reject the company's boardroom pay report ahead of its annual meeting next week.
15 June 2023 · 20:18 UTC
