By Joe Hoppe
London Stock Exchange Group PLC said Wednesday that the resolution on its remuneration report was approved at the annual general meeting, but figures provided by the company showed it passed with a relatively low percentage of votes.
The stock-exchange operator and financial-data provider said the resolution received 334.7 million votes in favor, corresponding to 76.48% of all votes cast.
The board noted that 23.52% of the votes cast were against the resolution, but said shareholders were consulted about the application of the remuneration policy.
LSE said the minimum shareholding requirement for the chief executive has been raised to 400% from 300%, and said the jump in the CEO's base salary reflects greater responsibilities following the acquisition of financial-data company Refinitiv Holdings Ltd. However, the group said it recognized some shareholders would have preferred the salary increase to have been phased.
"Following the annual general meeting, LSEG will continue to engage with its shareholders and will carefully consider all further feedback," the company said.
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Corrections & Amplifications
This item was corrected to reflect that the board noted that 23.52% of the votes cast were against the resolution. The original version incorrectly said in the third paragraph that more than 30% of votes cast were against the resolution.
(END) Dow Jones Newswires