The Lowdown Hub

Investors ready for more revolts over executive pay and diversity

Lawrence Stroll, Aston Martin’s executive chairman, and biggest shareholder could face opposition to his re-election at the annual meeting tomorrow because of concerns about the dearth of women on the board


Aston Martin Lagonda and Hochschild Mining are among the companies bracing themselves for shareholder rebellions this week over concerns about boardroom diversity and executive pay.

Hochschild, the FTSE 250 gold and silver producer, faces a rebellion after Glass Lewis, the shareholder advisory service, advised its clients to reject the miner’s pay report when the company meets on Thursday.

The rebellion relates to death last year at the Pallancata mine in Peru. Despite the fatality, the portion of the executive annual bonus linked to health and safety made a partial payout to Ignacio Bustamante, 50, Hochschild’s chief executive. He was paid $1.9 million last year, including a $945,000 bonus.

Glass Lewis said that the safety element of the bonus should have been cut to zero because it “risks sending a mixed message to the executives as to the company’s overarching safety goal”.

Hochschild declined to comment.

Glass Lewis and Institutional Shareholder Services, its rival, wield influ