MILAN - Investors are due to approve Andrea Orcel’s appointment as chief executive of UniCredit on Thursday, but the issue that scuppered his first attempt to run a major bank is overshadowing his second: pay.
Though only a fraction of the $30 million-plus bonuses Orcel got as a Merrill Lynch banker earlier in his career, UniCredit’s offer of up to 7.5 million euros a year puts him ahead of British bank Lloyds’ new CEO Charlie Nunn and of most European peers, analysts said. The guaranteed bonus and a generally much higher pay package than his austere predecessor Jean Pierre Mustier had opted for have irked some of UniCredit investors and prompted leading shareholder advisers to call for a “no” vote on the matter.
Frontis also advised shareholders to vote against the pay policy and Carbonara said he expected it would be rejected. “Investors’ dissent on companies’ pay policy is on the rise,” said Alessandro Zattoni, an Italian academic who chairs the International Corporate Governance Society. UniCredit’s former CEO Mustier, who left in February after falling out with the board over strategy, never actually earned that sum.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Orcel wields axe at Italy's UniCredit in opening act as CEOAndrea Orcel stamped his mark on UniCredit within weeks of becoming chief executive, axing management committees and a dual head structure that had been criticised by some top investors while hiring key lieutenants to oversee strategy and relations at the Italian bank. New month !!! bonus !!! Only 30 serious person's needed 💱 Work from home with your smartphone and start earning $2,500 every 48 hours and $8,750 weekly Ask me How No hidden fee No Charges involved No Scam Only serious minded person's WhatsApp number +12105706950
Source: Reuters - 🏆 2. / 97 Read more »
Orcel wields axe at Italy's UniCredit in opening act as CEOAndrea Orcel stamped his mark on UniCredit within weeks of becoming chief executive, axing management committees and a dual head structure that had been criticised by some top investors while hiring key lieutenants to oversee strategy and relations at the Italian bank. New month !!! bonus !!! Only 30 serious person's needed 💱 Work from home with your smartphone and start earning $2,500 every 48 hours and $8,750 weekly Ask me How No hidden fee No Charges involved No Scam Only serious minded person's WhatsApp number +12105706950
Source: Reuters - 🏆 2. / 97 Read more »
Under Armour to pay $9 million to settle SEC chargesU.S. sports apparel maker Under Armour Inc (UAA.N) has agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth, the agency said on Monday. Japan dump contaminated nuclear waste water into the sea. why not sanction Japan for nuclear pollution to the ocean ? In virus situation ,Japanese will as next India ,protect ourselves ,boycott the TOKYO Olympics .SAVE EARTH ,SAVE OUR HOME TOGETHER Parking ticket for them
Source: Reuters - 🏆 2. / 97 Read more »
Under Armour Returns to Profitability; Updates Full-year GuidanceThe news comes just a day after the retailer agreed to pay $9 million to settle and SEC dispute.
Source: wwd - 🏆 24. / 68 Read more »