Shareholder advisors ISS urge vote against Unilever remuneration policy
LONDON, April 13 (Reuters) - Influential advisory firm Institutional Shareholder Services (ISS (LSE: 0QRS.L - news) ) has recommended shareholders vote against the remuneration policy that Unilever (Amsterdam: UZ8.AS - news) will put forth at its annual meetings next month.
In a report issued late on Friday, the group said there were notable improvements, but concerns about the impact of the consumer goods company moving from a base salary to a consolidated "fixed pay" structure, particularly as a result of increases to fixed pay and the annual bonus potential.
"On balance, shareholder support is not considered warranted for the remuneration policy," it said. (Reporting by Martinne Geller; Editing by Susan Fenton)