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PIRC hits out at WHS
A leading shareholder advisory body has called on shareholders to oppose W H Smith's remuneration report at its 31st Jan annual general meeting because awards to directors, led by chief executive Kate Swann, are "potentially excessive", reports Thomson Financial.Pensions and Investments Research Consultants (PIRC) has examined the newspapers, books and stationery retailer's remuneration policy under its Long Term Incentive Plan and does not consider total shareholder return targets to be challenging enough given the level of award available. "Total incentive remuneration is potentially excessive and average director salaries are above median in the comparator group. We therefore recommend that shareholders oppose the remuneration report," it said.
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