Abrdn CFO’s remuneration under scrutiny ahead of April AGM
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In a move that could spark a potential investor backlash, adviser Glass Lewis has urged Abrdn’s shareholders to vote against the asset manager’s pay report, with the main focus being the salary of the incoming chief financial officer, Jason Windsor.
Glass Lewis pointed out that Mr Windsor’s base salary of £675,000 is 25% more than his predecessor, Stephanie Bruce. The firm also pointed out that the salary appears to be higher than what is normal for such a position, the Financial Times reports.
Abrdn’s annual report stated that the new CFO’s pay was based on an “assessment of what it would take to attract the required skills and expertise from the market”.
A spokesperson for abrdn said: “Jason provides significant experience as a CFO who has spent several years working in large public companies.
“His appointment followed a rigorous process, including a detailed assessment of compensation that was based on a range of factors. He is already proving a valuable addition to the Board and management teams.”
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