Shareholders of Paddy Power Betfair approved their directors’ pay, rejecting the recommendations of influential advisors.
UK.- Shareholders of the London-listed company Paddy Power Betfair approved their directors’ pay, dismissing the recommendations of experts and advisors.
A majority of shareholders in Irish gambling company Paddy Power Betfair backed their 2015 director pay reports. Paddy Power Betfair, the company formed after the merger between Paddy Power and Betfair, received 68.22 percent of votes backing the remuneration in its first meeting as a merged entity.
The problem with this vote is that investors in the UK and the United States are increasingly expressing anger over the rapid growth in executive salaries, especially when a company’s performance fails to meet expectations.
Paddy Power Betfair’s shares had closed lower on March 8 after the company’s results even though it reported a rise in revenue and profit for both firms separately.