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Adviser tells investors to oppose CEO pay reports at Hays, Smiths Group

Reuters - UK Focus

Nov 6 (Reuters) - Proxy voting adviser Pensions & Investment Research Consultants Limited (PIRC) has recommended shareholders reject the management remuneration reports for both Hays Plc (LSE: HAS.L - news) and Smiths Group Plc (Frankfurt: QS2A.F - news) , saying pay and bonuses for both firms chief executives were excessive.

PIRC, which advises pension schemes and other investors, also recommended that investors should vote against the re-electing Hays Chairman Andrew Martin to the board, citing a missed board meeting.

The adviser also recommended against the re-appointment of PwC as auditors of recruiting firm Hays and Smiths, which manufactures a range of diversified industrial equipment and products, raising "serious concerns" about the independence of the auditor. (Reporting by Noor Zainab Hussain in Bengaluru)