Leading Big Yellow Group shareholder Royal London Asset Management has said it will vote against the self-storage operator’s proposed remuneration policy at its annual general meeting on Thursday.
The self-storage group, which has 96 sites across the UK including its Armadillo portfolio, has proposed executive salary increases of up to 40% over three years that will need to be approved at its AGM this week.
Big Yellow’s remuneration proposals would see the salary of chief executive James Gibson rise from £302,000 to £440,000 by April 2020 and that of executive chairman Nicholas Vetch will rise from £275,000 to £375,000 over the same period.
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