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Robert Walters shareholders revolt over bonus plan

By Daily Mail Reporter
Updated: 03:19 EDT, 26 May 2011

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Angry investors yesterday rejected plans by headhunter Robert Walters to pay its bosses massive bonuses.

Just 40% of shareholders backed the remuneration report, which awarded executives bonuses bigger than their salaries.

The revolt saw nearly 44% vote against the pay deal and another 16% sit on their hands in a major embarrassment for the board.

The firm paid chief executive Robert Walters a bonus of £599,000 on top of his £499,000 pay.

Chief operating office Giles Daubeney got a £499,000 payout as well as his £416,000 salary and finance director Alan Bannatyne got £365,000 on top of his £304,000 salary.

The maximum bonus is usually 100% of salary at Robert Walters (down 1.25p to 290.75p) but the remuneration committee is allowed to award more if performance justifies it.

The company declined to comment on the shareholder revolt.

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