Insurer cuts its wage bill by a third after investor backlash
Aviva cut its directors’ pay by more than a third last year after the shareholder revolt that saw chief executive Andrew Moss step down.
Total boardroom pay fell from £7.28million in 2011 to £4.77million for 2012, figures from its annual report show.
The report said that the company “recognised pay was not sufficiently linked to performance in 2011”.
Moss, who left after the revolt in May last year, will get his £898,462 salary until May and £300,000 to settle any bonus claims.
New chief executive Mark Wilson gets a base salary of £980,000 and relocation expenses of up to £200,000.
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