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Unilever to freeze new CEO's fixed pay for two years

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Consumer goods company Unilever (ULVR.L) said on Monday its board had decided to freeze CEO Hein Schumacher's fixed pay for the next two years, after his initial pay package was rejected by shareholders in May.

The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File PhotoCEO's fixed pay level to be reviewed in 2026said on Monday its board had decided to freeze CEO Hein Schumacher's fixed pay for the next two years, after his initial pay package was rejected by shareholders in May.

The board, which includes activist investor Nelson Peltz, had proposed a deal for Schumacher which included a base salary of 1.85 million euros , a 20% increase on his predecessor Alan Jope’s pay.

 

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