Our views

Big Yellow salaries set to rise

Ashley Hamilton Claxton, Head of Responsible Investment

16 July 2018

We have long standing concerns about pay at Big Yellow Group and we will be voting against the firm’s remuneration report and remuneration policy, as well as against the Chairman of the remuneration committee. We are concerned by large salary increases of up to 40% for the executive directors over the next three years. This will have the effect of ratcheting up performance-based pay that’s set as a multiple of salary.

While we welcome the introduction of a holding period for long-term awards under the firm’s new remuneration policy, we are concerned that variable pay will be more heavily geared towards short-term performance under the new plan.

Past performance is no guide to the future. The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested. The views expressed are the author’s own and do not constitute investment advice.