'Excessive' | Internal battle in Smith & Nephew over executive pay raises wider questions

Shareholders of Smith & Nephew, a prominent FTSE 100 industrial group, are at odds over proposed executive pay rises, sparking a contentious internal battle within the company.

The proposed increase, particularly for the US-based CEO Deepak Nath, has drawn criticism from institutional shareholder services and ignited a broader debate about international competitiveness and corporate governance.

Under Smith & Nephew's proposals, Nath stands to receive a substantial pay rise of nearly 30%, with his maximum package potentially reaching $11.79 million next year.

This significant increase has raised eyebrows, especially in light of the company's recent history of leadership turnover, having gone through four CEOs in the past five years.