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Investor anger rises over pension pay and bonus bumps at Lloyds and Centrica

Two well-remunerated FTSE 100 bosses will be in the spotlight this week as a mood of rebellion grows among shareholders

It is bad enough being responsible for slumping customer numbers and rising bills at British Gas, but Centrica’s boss, Iain Conn, now finds himself lumped in with senior banking executives in controversies over pay.

Conn’s bedfellow in shareholder discontent is Lloyds Banking Group’s chief executive, António Horta-Osório. Both face their investors at annual general meetings this week, having ruffled feathers in recent months over their excessive pay packets. Conn’s remuneration has grown with the help of two bonuses, each worth £388,000, while Horta-Osório is feeling the heat over annual pension payments viewed by many shareholders as little more than a backdoor pay rise.

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