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Unilever in executive pay revamp

24th Feb 17 1:50 pm

What’s next for the company?

Unilever is looking into changes as to how it pays its executives, this comes after the takeover approach from Kraft Heinz that has triggered a fresh review of the Marmite owner’s business.

Unilever has been consulting on a new payment policy that would have seen a maximum sum payable to chief executive, Paul Polman cut back by more than £1m.

Investors have said that Unilever was coming close to a new executive reward structure at the time of Kraft Heinz’s approach.

However, after a tight schedule the new pay revamp is unlikely to be seen this year.

Unilever rejected an offer from Kraft Heinz, if it had gone ahead it would have been the largest takeover of a British company.

Management, investors and the government strongly disagreed with it.

Unilever is expected to publish its annual report for its 2016 earnings next week, it could well mention its plans on the change to its executive pay structure.

Unilever have declined to comment on the matter but one insider said on Friday that “for executive directors the current structure of the package, including short and long-term incentive opportunities, will remain unchanged in 2017”.

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