Balfour Beatty has become the latest firm to receive a bloody nose over fat cat pay.
Nearly 14 per cent of votes cast at the builder’s AGM were against bumper pay packets handed out last year.
Chief executive Leo Quinn, 61, was paid £5.3 million, nearly 300 per cent more than 2016 due to £2 million in long-term incentives.
Unhappy: Nearly 14 per cent of votes cast at the builder’s AGM were against bumper pay packets handed out last year
Finance director Phillip Harrison, 56, was paid £1.9 million, including £751,897 from a long-term incentive award.
Since arriving in 2015, Quinn has helped turn the FTSE 250 business around after it struggled with costs. Its share price has risen from below 160p in 2014 to above 306p yesterday.
Some shareholders are thought to have wanted bosses to wait longer for long-term incentive plan shares.
A Balfour spokesman said: ‘We are pleased with the support received by our remuneration report. Only one of our top 20 shareholders voted against the report.’
Balfour is among several firms to face shareholder unrest over pay this year.
Nearly 26 per cent of shareholders in engineering turnaround firm Melrose failed to back the £167 million for its directors last year.
Insurer Direct Line faced a rebellion of 23 per cent, while almost 50 per cent of builder Persimmon’s investors voted down £75 million for boss Jeff Fairburn.