Imperial Brands Withdraws Proposal For New Directors' Remuneration Policy

Imperial Brands PLC, (IMT.L,ITYBY.PK), formerly Imperial Tobacco Group PLC, Thursday said that the notice of its annual general meeting to be held on February 1 includes at resolution 3 a proposal to adopt a new Directors' Remuneration Policy which amends the existing Directors' Remuneration Policy.

The company now said it no longer intends to seek shareholders' approval for the Proposal at the AGM and that the Directors' Remuneration Policy and its associated metrics as approved by shareholders at the AGM held in 2015 will continue to apply.

Chairman Mark Williamson said, "We have been actively engaging with shareholders for some time and while we received considerable support, it is clear that views have changed over that time and that the right course of action now is for the Board to withdraw the resolution."

According to the firm, revising the policy is necessary for retaining and attracting the right calibre of talent to ensure the continued sustainable growth of the business. The company said it will reengage with shareholders to reach a consensus on this important issue.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Omnichannel retailer Macy's, Inc. announced Monday plans to hire colleagues for more than 41,000 full- and part-time seasonal positions for the upcoming holiday season. The colleagues will be positioned at its Macy's, Bloomingdale's and Bluemercury stores, supply chain locations and call centers. Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022.
Follow RTT