FTSE companies prepare for executive pay showdowns

Boardroom executives of at least five major companies are braced for rows over pay and succession planning when they hold their annual general meetings, at a time of renewed shareholder focus on directors’ pay. More than 25 companies have their AGMs scheduled for Thursday, although before they begin the focus is on FTSE 100 companies – such as Shire Pharmaceuticals, the building materials business CRH, Barclays and the fund manager Schroders – and the FTSE 250 engineer Weir. The votes on pay at Shire Pharmaceuticals, CRH and Weir are expected to be tight, especially at Shire – where the chief executive, Flemming Ørnskov, is receiving a 25% rise in his salary to $1.7m (£1.2m). This year’s AGM season has already broken records, with two FTSE 100 companies – BP and Smith & Nephew – both receiving no votes over pay on the same day – and revolts over pay are also expected on Thursday.