Shipping broker Clarkson hit by ninth pay revolt

By PATRICK TOOHER

Updated: 21:50 BST, 2 May 2025

Shipping broker Clarkson has been hit with yet another huge shareholder revolt over boardroom pay.

In one of the biggest protests this year, 47 per cent of investors opposed a pay scheme that handed boss Andi Case £12.6m.

And 37 per cent voted against the re-election of pay committee chairman Tim Miller.

It is the ninth year in a row that Clarkson has suffered a pay rebellion and came after it warned profits would be hit by the global trade war – which would dent shipping rates in dollar terms.

Choppy waters: Shipping broker Clarkson has been hit with yet another huge shareholder revolt over boardroom pay

Profits could be £9.5m lower when this income was converted into sterling, it added. The warning sent Clarkson’s shares to their lowest level in more than a year.

Case, who has run Clarkson since 2008, got an £11.1m bonus last year after profits rose 6 per cent to £115m. He was paid £11.6m the year before.

Critics have argued that the performance targets are too easy to reach for Case to hit the jackpot.

The update came at the firm’s annual general meeting, which was online-only. Clarkson said it noted the votes on both the pay report and Miller’s re-election.

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Shipping broker Clarkson hit by ninth pay revolt

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