News from IGEM UK
BG tweaks chief's £12m package amid protests
The FTSE-100 company BG Group has responded to pressure over a £12 million share award for its new Chief Executive after some investors indicated that they would revolt over the deal.
BG published a shareholder circular which outlined revised proposals for a remuneration package for Helge Lund, who is joining from the Norwegian energy giant Statoil.
Pressure from shareholders has forced the firm to revise Lund's remuneration package and reduce his share award from £10 million to £4.7 million.
The company stated that a "significant number" of shareholders had questioned the structure of the original proposed pay package, in particular asking whether it was appropriate to go outside the remuneration policy approved by shareholders earlier this year.