Aviva humiliated by shareholder pay revolt

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Just under 50% of shareholders voted against the pay proposals with 41% in favour and roughly 9% abstaining.

The revolt comes despite attempts by the insurer to fend off the shareholder revolt by pledging to review its remunerations policy and group chief executive Andrew Moss forgoing a £46,000 pay rise.

However, the vote is only advisory, as government proposals to make such votes binding have yet to reach the legislation stage.

Aviva’s chairman, Colin Sharman, apologised to shareholders

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