[miningmx.com] – A UK adviser to institutional investors, Pensions & Investment Research Consultants (PIRC), has asked shareholders in Rio Tinto to oppose its policy on pay and dividends at the firm’s annual general meeting this month.
Bloomberg News said in an article citing PIRC that Rio Tinto CEO Sam Walsh – who received a 44% pay increase – earned a salary that was disproportionately high compared to the that of the average company worker while it was excessive compared with total shareholder returns.
Walsh received $9.3m last year which includes salary, a cash bonus, shares, superannuation and other benefits.
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