© Reuters. FILE PHOTO: The Unilever company logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) – Consumer goods company Unilever (LON:) said on Monday that its board of directors had decided to freeze chief executive Hein Schumacher’s fixed salary for the next two years.
The board, with a 58% majority, rejected a resolution to adopt the Directors’ Remuneration Report (DRR) at the annual general meeting of maker of Dove soap and Ben & Jerry’s ice cream.
Schumacher, who took office in July, will not be eligible for a fixed salary increase in 2024 and 2025.
“The main reason for the limited support for DRR was the approach taken to setting the incoming CEO’s remuneration at the time of his appointment,” the company said in a statement.
The compensation committee is reviewing its fixed salary level in 2026.
