FTSE 100 firms braced for battle on pay as proxy advisers push back

City AM

FTSE 100 firms braced for battle on pay as proxy advisers push back

FTSE 100 firms are braced for a bruising few weeks as the battle with proxy advisers over executive pay in the City heats up. The London Stock Exchange Group is planning to nearly double chief executive David Schwimmer’s pay to £13.2m from £6.3m but is facing resistance from proxy adviser Glass Lewis, which has urged shareholders to vote against the move at its upcoming annual general meeting on 25 April. Medical manufacturer Smith & Nephew is f…