Monday May 25, 2020

AIB faced shareholder revolt over payment to former finance director

AIB last week faced an unprecedented revolt from its biggest shareholders and came close to losing a proposal to pay additional ‘goodbye’ money to its former finance director.

29th April, 2006

AIB last week faced an unprecedented revolt from its biggest shareholders and came close to losing a proposal to pay additional ‘goodbye’ money to its former finance director.

The resolution to pay compensation to Gary Kennedy was passed, but more than 40 per cent of the bank’s shareholders, including some of the largest pension funds and institutions in the world, voted against the resolution in ballots before the bank’s annual general meeting last...

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