The pay packages of senior Alliance Trust executives again came under shareholder scrutiny at the AGM.
Non-executive director Susan Noble explained the level of annual bonus awarded to chief executive Katherine Garrett-Cox and CFO Alan Trotter was measured against business and corporate targets.
In 2013, Ms Garrett-Cox achieved 57.5% of her overall targets and received a bonus commensurate with that figure of £366,672. Mr Trotter achieved a 53.5% score and received £120,375.
Ms Garrett-Cox’s total package for 2013 – including her base salary of £425,000, taxable benefits, bonus, long term awards and pension contributions – came to £1.37 million, down from £1.8m in 2012.
Mr Trotter received £637,000, down from £919,000 a year earlier.
The directors’ remuneration remuneration policy resolution was passed by shareholders despite a 10.78% vote against it. The directors remuneration report also went through in the face of a 6.2% no vote.
