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Paddy Power and Betfair owner Flutter rocked by shareholder revolt

Paddy Power and Betfair owner Flutter rocked by shareholder revolt over fat cat pay

The owner of Paddy Power and Betfair was rocked by a shareholder revolt as a string of companies faced fat cat pay fury.

At gambling giant Flutter a third of investors who voted at the annual meeting opposed executive pay after chief executive Peter Jackson was handed a 26 per cent rise in his basic pay to £1.17million.

This was more than double the scale of last year’s rebellion when 15 per cent voted against the remuneration report.

Jackpot: Flutter saw a third of investors oppose its executive pay package after chief exec Peter Jackson (pictured) was handed a 26% rise in his basic pay to £1.17m

Flutter said Jackson’s salary needed to be comparable with US rivals since the business expanded there. 

It acknowledged the rises were ‘materially higher’ than the average across the rest of its UK workforce.

Advisory service ISS fumed: ‘The magnitude of the increase is not considered justified’. 

Meanwhile, almost a fifth of shareholders who voted rebelled against pay at ITV where chief executive Dame Carolyn McCall took home £3.5million last year including a £943,000 salary.

Building materials group CRH saw 14 per cent vote against its pay report while 15 per cent opposed remuneration at Serco.

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