3i bonuses to spark shareholder revolt
Ahead of 3iтs annual meeting on Thursday, shareholder lobby group PIRC is urging stakeholders to vote against the listed firmтs executive bonuses.
According to the Express, PIRC views the size of the bonus payouts as excessive against the company's available capital. The lobby group believes that weak performance criteria make it very easy for 3i executives to claim maximum bonuses.
Last month it was revealed that 3i CEO Simon Borrows took home £6.29m after his first year at the helm. This was made up from £2.55m in salary, benefits and short-term bonuses and free shares worth £3.74m.
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