JLL will be revisiting it executive shares program after a rebellion from shareholders, the firms has said in its annual report.
The report states: “In connection with the 2017 annual meeting of the company, we received public criticism of our executive pay levels and compensation policies from one of our larger shareholders.
“Since we have always greatly valued the input and feedback of our shareholders, especially as it relates to corporate governance, we are in the process of revisiting our executive compensation program based in part on feedback we have received from our shareholders.”
Last June, over just under 44% of shareholders voted against JLL’s compensation deals.
However, JLL warned that the review could hinder the firms efforts to attract the best talent.
“In the event that these emerging circumstances result in changes to our pay practices or our ability to issue equity compensation to executives or otherwise to deduct executive compensation, we may have difficulty retaining our executives or we could experience additional tax costs with respect to our compensation programs.”
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