The insurer Standard Life Aberdeen has suffered a bruising shareholder revolt over the pay of its new finance chief, with more than two-fifths of investors voting against its remuneration report.

At its annual general meeting in Edinburgh, 42% of Standard Life shareholders opposed the report in one of the biggest investor revolts in recent years, but the resolution was passed with nearly 58% backing it in an advisory vote.

Shareholder advisory firms Glass Lewis and Institutional Shareholder Services (ISS) had raised concerns about the pay package for Stephanie Bruce, who will become the new chief financial officer at the insurance and asset management firm on 1 June.

Source: Standard Life Aberdeen bruised by shareholder pay revolt | Business | The Guardian