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.