Pendragon suffered a huge shareholder revolt over executive bonuses as almost two-thirds voted against the remuneration report at the car dealer’s annual meeting.
The scale of the revolt, the third in a row, was branded “hugely embarrassing” by one analyst as 65.51 per cent of those who voted were against the directors’ pay report
Two directors were also part of the revolt , with 35.1 per cent voting against the re-election of Bill Berman, the chief executive, and 39.8 per cent giving the thumbs-down to Dietmar Exler, senior independent director and a member of the remuneration committee.
Disgruntled shareholders did not get a chance to censure the chairman of the remuneration committee after the company announced three weeks ago that Mike Wright was stepping down
