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Misys facing executive pay revolt

Shareholder groups questiohn potential 900% bonus for CEO

Banking IT systems provider Misys is facing a potential shareholder revolt over executive pay, it has been reported.

Last month's AGM saw 37 percent of votes being cast against the proposed Misys executive pay plan, the Independent newspaper reported. The votes against the plan were supported by shareholder activist group Pirc.

Last year less than two percent of Misys shareholders were against the executive remuneration package.

Pirc told the Independent that this year's package was "wholly excessive". It said Misys CEO Mike Lawrie could receive a 900 percent of salary bonus in the coming year.


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