Anger at DS Smith boss's £200k relocation allowance for 40-mile move

A £200,000 relocation allowance for a chief executive who moved less than 40 miles has prompted a row over boardroom pay and a shareholder rebellion.

Mike Roberts, the boss of packaging and cardboard box firm DS Smith, was handed the relocation payment after the head office was moved from Maidenhead, Berkshire, to Euston Road in London. Roberts, 50, who received remuneration of £3.4m last year, was given the payment to move from Hertfordshire to central London.

At Wednesday's annual shareholders' meeting 40% of investors failed to back three votes on pay – the remuneration report (covering last year's pay), the remuneration policy (covering pay for the next three years) and a separate long-term plan, the performance share plan (PSP) –when deliberate abstentions were added to votes against. About 18% of investors voted against the remuneration report, 23% against the remuneration policy, and 23% against the PSP.

In the annual report, the chair of the remuneration committee, Kathleen O'Donovan, said Roberts was paid 10% below the midmarket salary and that the company had "listened carefully" to the debate on pay. The company had responded to previous requests from investors to increase the minimum of shares directors should own.

The company said: "We understand remuneration is an important issue both for companies and shareholders. That is why we have conducted an extensive consultation exercise and we are pleased with the passing of all our resolutions, including on remuneration, by a significant majority, of at least 75% in all cases."