Following investor discontent at its recent AGM, Plus500 (LSE: PLUS) has launched a shareholder engagement effort to address concerns over executive pay and board leadership. The Directors’ Remuneration Report failed to pass with a majority, while Board Chair Professor Jacob A. Frenkel was re-elected with only 71.57% support.
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To rebuild trust, Plus500’s board is now conducting extensive discussions with major shareholders and advisory firms ISS and Glass Lewis. CEO David Zruia and CFO Elad Even-Chen have held face-to-face meetings in London, focusing on governance improvements and the company’s revised remuneration structure.
The company plans additional shareholder meetings through 2024-2025 and will report on these initiatives in its 2024 Annual Report. Meanwhile, Plus500 recently posted an 11% revenue growth for Q3 2024, with EBITDA up 2% to $82.2 million.
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