Centrica face shareholder protest votes against CEO's £3.7m pay package

One in three Centrica investors have failed to back a pay deal for new CEO Iain Conn in a year when over 300,000 customers have defected from British Gas.

Although the pay package of up to £3.7million was less than his predecessor Sam Laidlaw, concerns raised by shareholder advisory body Institutional Shareholder Services Inc. (ISS) saw 67% of investors vote in favour of his remuneration package at Centrica’s annual meeting yesterday.

Prior to the meeting, the owner of British Gas announced that the largest household energy supplier in the country would hire new staff immediately in Manchester, Leeds, Cardiff and Edinburgh, and has promised to spend £50million on its customers.