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INDV - Indivior News Story

147.2p -1.0  -0.7%

Last Trade - 12:14pm

Market Cap £1.09bn
Enterprise Value £612.7m
Revenue £483.9m
Position in Universe 418th / 1814

Indivior hit by investor rebellion over payout to former CEO

Thu 6th May, 2021 6:40pm
May 6 (Reuters) - Indivior  INDV.L  was hit by a shareholder
rebellion at its annual meeting on Thursday over bonuses for its
former CEO. 
    In an advisory vote, only 61.73% of investors at the meeting
voted in favour of the company's remuneration report. 
    Shareholder advisory groups, Glass Lewis and Institutional
Shareholder Services, had recommended a vote against the
remuneration report, which had retained long-term incentives for
former CEO Shaun Thaxter. 
    "In the run up to the AGM we engaged with a number of
shareholders to understand their concerns, which we understand
related to the termination arrangements for the former Chief
Executive Officer, Shaun Thaxter," the company said in a
statement.
    "The Remuneration Committee determined, based on Mr
Thaxter's leadership that produced years of positive operational
performance, and the absence of any findings of personal
wrongdoing or malfeasance, to allow Mr Thaxter to retain his
outstanding LTIP [Long-Term Incentive Plan] awards."
    

 (Reporting by Pushkala Aripaka in Bengaluru. Editing by Jane
Merriman)
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 ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile:
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