Source - SMW
Power control systems supplier XP Power said it would make no changes to its executive pay arrangements, despite a substantial number of investors voting against its remuneration report earlier in the year.

At the company's annual general meeting in 21 April, a resolution to adopt its remuneration policy was approved by 79.2% of votes cast.

XP Power said it had engaged extensively with its shareholders since the meeting, including eight that either voted against one or more of the resolutions or whose voting was unclear.

XP Power said its remuneration committee had developed proposals 'essential to maintaining the company's ability to retain, motivate and attract high quality executives'.

'The committee intends to continue to communicate with shareholders in respect of significant decisions on remuneration,' it added.

'In the light of the committee's assessment of the company's long term interests and of the strong shareholder support received, it intends to take no further action beyond its commitment to engage extensively with a wide cross section of shareholders in future consultations.'




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