Advisory firm PIRC opposes Centrica remuneration policy

(Reuters) - Advisory group PIRC on Tuesday recommended shareholders vote against Centrica's remuneration policy at the British Gas owner's annual general meeting to be held on June 7.

The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said it sees the total variable pay for executive directors to be "excessively" high in Centrica's remuneration policy.

PIRC also urged shareholders to vote against resolutions on share and long-term incentive plans.

(Reporting by Sinchita Mitra in Bengaluru; Editing by Krishna Chandra Eluri)