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23/09/2021

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Shareholders of electric lorry manufacturer Nikola have rejected the pay report in a non-binding vote over executive pay. According to Reuters, Mark A. Russell, the president and chief executive officer, was awarded $159.2m, of which just $173,077 was in salary.

Founder and former executive chairman Trevor R. Milton had been due to receive the same amount, but his pay was reduced to $16.5m under the terms of his resignation agreement last September. Nikola’s shares have fallen by 80% from their peak.

Almost a fifth announced of Sainsbury’s shareholders have rejected the supermarket’s
job remuneration
reports a month after it was revealed that Simon Roberts, the chief executive, took home a £583,000 bonus in his first nine months in the job, says City AM.

That payout came despite the company falling to a £261m full-year loss in April. Advisory groups had urged investors to reject the pay committees payouts” for 2020.

Last week, lan Barlow fifth announced he would retire from his role as chairman at estate agency Foxtons by the end of the year, says The Times. He earned £158,000 for 2020.

The board has come under pressure from shareholders angered at the pay report, which handed CEO Nic Budden a cash bonus of £389,000 and shares worth £569,000, taking his total pay to £1.6m in 2020, despite Foxtons receiving £6.9m in government support last year.

Source: MoneyWeek.com

Kris Paterson is a writer for whatjobs.com

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