BlackRock to vote in favor of Persimmon pay report: Sky News

May 1, 2019

(Reuters) – Persimmon looks set to avoid another backlash over executive pay after its largest shareholder BlackRock voted in support of the housebuilder’s remuneration report, Sky News reported on Wednesday.

The report said BlackRock has backed Persimmon’s board ahead of an annual general meeting on Wednesday at which shareholders will vote on the remuneration report, which disclosed that new Chief Executive Dave Jenkinson was paid‎ almost 25 million pounds ($32.67 million) last year.

BlackRock, which owns 5.25 percent of Persimmon shares, declined to comment, while the company did not immediately respond to a request for a comment.

Persimmon’s previous CEO Jeff Fairburn left after the company said criticism of his $100 million bonus package had hit its reputation.

(Reporting by Shashwat Awasthi and Samantha Machado in Bengaluru; Editing by Saumyadeb Chakrabarty)

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