Proxy adviser PIRC tells shareholders to oppose BHP Billiton’s remuneration report

Oct 9 (Reuters) – Proxy voting adviser PIRC has recommended that BHP Billiton shareholders oppose the mining company’s remuneration report at its annual general meeting on Oct. 17.

“… the maximum potential award for the CEO under all incentive schemes is considered excessive as it can represent more than 200 percent of base salary. There are concerns over certain features of the LTIP which are not considered appropriate,” PIRC said in a report.

(By Noor Zainab Hussain in Bengaluru; Editing by Jane Merriman)