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£6 million doesn't seem too bad, especially since much of it is performance based!
Remember investors own the firm. They have every right to decide on the pay of managers employed to do a job for them.
Then why do not many investors never exercise that right of say
because most shareholdings are held in funds and by institutions that hold shares for less than a year or at most a couple of years. They don't care about corporate governance when they have no long term holding in the company. This has led to a real increase in executive power and pay. Not good.
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