Axa Shareholders Advised to Reject CEO Buberl’s 20% Pay Increase

Axa SA shareholders were told to vote against a 20% increase in Chief Executive Officer Thomas Buberl’s compensation, as proxy adviser Institutional Shareholder Services argued the company hadn’t provided sufficient rationale.

The pay increase would boost Buberl’s total compensation to 6.9 million euros ($7.5 million), above the median CEO pay at European competitors, ISS wrote in a note ahead of the annual general meeting on April 28.

Shareholders in the French insurer will be asked at the AGM to renew Buberl’s term to 2026. Axa highlighted that Buberl’s total compensation is approximately 25% lower than his peers’ at Allianz ...