'Unilever To Freeze CEO Schumacher's Fixed Pay For Two Years' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Unilever's board has decided to freeze CEO Hein Schumacher's fixed pay for the next two years. The decision was made after a majority of 58% rejected a resolution to adopt Directors' Remuneration Report at the annual general meeting. Schumacher, who assumed the role in July, will not be eligible for a fixed pay increase in 2024 and 2025. The compensation committee is reviewing his fixed pay level in 2026.
October 30, 2023 | 5:42 pm
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NEUTRAL IMPACT
Unilever's decision to freeze CEO Hein Schumacher's fixed pay for two years may impact investor sentiment. The decision reflects the board's response to shareholders' concerns about executive compensation.
The decision to freeze the CEO's pay is a significant move by Unilever's board, reflecting their response to shareholders' concerns about executive compensation. While this doesn't directly impact the company's financial performance, it could influence investor sentiment and perception of the company's governance. However, the exact impact on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100