Reversal in Fortune: Intertek Backpedals on New Directors' Remuneration Policy

The decision-makers at Intertek Group plc have stirred up a storm in the shareholder’s teapot as they announced the withdrawal of the proposed new Directors’ Remuneration Policy, originally intended to be voted on at the forthcoming Annual General Meeting (AGM) on 22 May 2025.

Citing robust engagement with investors, and following advice from consultants, the FTSE 100 listed company has taken a step back and will continue with the existing Directors’ Remuneration Policy. This current policy, previously ratified by the shareholders, will remain under constant review to ensure its continued relevancy and fairness.

In a swift move to mitigate any confusion, the industrials giant clarified that the removal of Resolution 2 from the AGM agenda does not implicate the legitimacy of the AGM notice, the proxy form, or any proxy votes already submitted. The remaining proposals to be tabled at the AGM maintain their original numbering and validity.

In an era where business transparency and fairness in executive remuneration are under constant scrutiny, Intertek’s decision illustrates their willingness to react to shareholder feedback and maintain open channels of communication. As they proceed under careful review of their remuneration policy, all eyes will be on how this decision shapes their governance and impacts their overall performance in the days to come.