Smith & Nephew had a shareholder revolt on Wednesday when nearly half of voting investors rejected the medical device manufacturer’s plans to raise its chief executive’s pay packet to $11.8m (£9.5m).
But the company’s pay policy, which will increase the maximum payout for Deepak Nath – who is based in Texas – by nearly a third, was narrowly approved, despite 43% of votes cast against the proposals at its annual general meeting in Watford.
