Shareholders appear to have blocked a pay rise for Alison Cooper, chief executive of Imperial Brands, in a move that may affect other FTSE 100 companies aiming to hike the bonuses of their bosses. Critics of high pay said the move was a warning to company bosses about pushing through pay rises - but urged investors to keep up the pressure. “But just as one swallow does not make a summer, one example of effective criticism does not make a ‘shareholder spring’. Its size means it is usually among the top three investors in FTSE 100 companies. Blackrock wrote to the major companies on the stock market warning that it was on guard for companies justifying pay rises on the basis of comparisons with the pay of rivals.

Source: The Guardian January 26, 2017 10:25 UTC