A majority of United Utilities’ shareholders have given the green light for the water supplier to pay its top boss a shares “allowance” despite previously being stripped of her bonus.
Some 75.8% of votes cast at the company’s annual general meeting (AGM) on Friday were in favour of its remuneration policy, meaning it gained enough to be approved.
Nevertheless, that left 24.2% of votes against the policy that led to backlash when it was unveiled last month.
Chief executive Louise Beardmore is in line for so-called shares allowances worth £435,000 a year, split up into instalments in August and then February next year.
She would need to keep the shares for at least two years, according to United Utilities.
The plans have been heavily criticised by campaigners, coming after Ms Beardmore was denied a £417,000 annual bonus for 2024-25 by regulator Ofwat after an incident at a reservoir in December 2024 led to the death of thousands of fish.
But the latest annual report showed Ms Beardmore was awarded an annual bonus of £830,000 for the most recent 2025-26 financial year and long-term incentive awards worth £712,000.
Liberal Democrat environment spokesman Tim Farron had said the water industry was “never failing to find ways to evade accountability” as the Government cracks down on bonuses handed to bosses.
And shareholder advisory group Institutional Shareholder Services recommended that investors should reject the proposals, arguing that the “changes have the effect of insulating pay from performance, to a degree”.
Following the AGM vote, a spokesperson for United Utilities said: “None of the remuneration paid to our executive directors is paid for by customers.
“It is vital that we have leaders with the right capabilities to run the largest FTSE 100 company in the north west as we invest over £13 billion in infrastructure by 2030, supporting 30,000 jobs.
“That’s why our new policy includes timebound and targeted retention payments to ensure we have the right people to deliver for customers and the environment.
“The policy received over 75% support from shareholders, with whom we will continue to consult.”