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Trinity Mirror shareholders urge CEO pay cut

Major shareholders in Trinity Mirror, including Aviva, Standard Life and Legal & General, are urging the publisher’s chief executive, Sly Bailey, to accept a pay cut – according to reports in the Sunday Times.

The demands precede a remuneration discussion by the publisher’s board on March 15, heaping pressure on Bailey to forego any attempt to gain more cash.

It follows a spate of negative headlines surrounding Bailey’s pay packet after she raked in £12.4m over nine years despite overseeing an 87% collapse in Trinity’s share price.

This led many, notably the guardian, to question whether she was the ‘UKs most overpaid chief executive.’