REG - PZ CUSSONS PLC - 2023 AGM Voting Results Update Statement

PZ CussonsAnnouncement

10/05/2024 10:00

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RNS Number : 9765N  PZ CUSSONS PLC  10 May 2024

 

10 May 2024

PZ CUSSONS PLC

 

2023 AGM VOTING RESULTS UPDATE STATEMENT

 

In accordance with Provision 4 of the Corporate Governance Code, PZ Cussons
today provides an update in respect of the results of its Annual General
Meeting (AGM) held on 23 November 2023, where resolution 3 (to approve the
Directors' Remuneration Policy) was passed with the necessary majority but
with more than 20% votes against by shareholders.

 

The Directors' Remuneration Policy was proposed after thorough engagement and
consultation with major shareholders led by the Chair of the Remuneration
Committee. The Board understands that the votes against were primarily
attributable to the adoption of a Restricted Share Plan (RSP) where a number
of shareholders expressed opposing views during consultation. The Committee
had provided an explanation in the Directors' Remuneration Report of the
reasons for the migration to a RSP plan, which included a need to provide
competitive variable pay for its senior leadership and to align the interests
of the executive with the long term interests of our shareholders.

 

The Committee's view is that it has acted in the best interests of the Company
and all its stakeholders, however the Committee will keep in mind the views
expressed by shareholders on this issue as it plans for future amendments and
renewals of the Directors' Remuneration Policy.

 

For further information please contact:

 

Investors

Simon Whittington - IR and Corporate Development Director      +44 (0) 77
1137 2928

 

Media

Headland PZCussons@headlandconsultancy.com             +44 (0) 20
3805 4822

Susanna Voyle, Stephen Malthouse, Charlie Twigg

 

Notes to editors

 

About PZ Cussons

PZ Cussons is a FTSE250 listed consumer goods business, headquartered in
Manchester, UK. We employ nearly 3,000 people across our operations in Europe,
North America, Asia-Pacific and Africa. Since our founding in 1884, we have
been creating products to delight, care for and nourish consumers. Across our
core categories of Hygiene, Baby and Beauty, our trusted and well-loved brands
include Carex, Childs Farm, Cussons Baby, Imperial Leather, Morning Fresh,
Original Source, Premier, Sanctuary Spa and St.Tropez. Sustainability and the
wellbeing of our employees and communities everywhere are at the heart of our
business model and strategy, and captured by our purpose: For everyone, for
life, for good.

 

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