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The Guardian - UK
The Guardian - UK
Entertainment
Kalyeena Makortoff

Universal Music’s £119m CEO pay offer may provoke shareholder revolt

Universal Lucian Grainge United States Glass Lewis Renault UMG Universal Music Group
Lucian Grainge with Billie Eilish
Universal Music Group CEO Lucian Grainge with label artist Billie Eilish. UMG is offering Grainge a €92m share-based bonus over five years. Photograph: Chelsea Lauren/Variety/Rex/Shutterstock

Universal Music Group could become the latest company to face an embarrassing shareholder revolt this AGM season, after an influential advisory firm urged investors to reject an “excessive” €139m (£119m) payout for its chief executive, Lucian Grainge.

Glass Lewis said it had “severe reservations” about supporting the Dutch-American music company’s pay decisions, which included a €92m share-based bonus for its British-born CEO that easily made up for a 51% cut in his salary, to €7.5m.

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