Aviva to review executive pay

The remuneration committee of Aviva has agreed to review how the company will compensate future joining executives, following shareholder anger over executive pay.

In a statement the company said that while it thought that executive pay was ‘appropriate’, it wanted to take shareholders' concerns into account. “We take the views of our shareholders very seriously.

I am disappointed that we haven’t done that as well as we should have on this occasion,” said Scott Wheway, chairman of the remuneration committee at Aviva.

“A number of shareholders have indicated that they would like to see a different approach to the way we compensate senior directors on recruitment and an even closer correlation between our pay packages and shareholder returns. Having listened to them, we have sought to address their concerns and will continue to engage with them on this matter.”