Business
Statement re Shareholder Engagement and Outcome
InterContinental Hotels Group PLC's (IHG) 2025 Directors' Remuneration Policy received 69.5% shareholder support at the AGM, while the 2024 Directors' Remuneration Report achieved 79.0% support. Despite both figures falling short of 80%, the Remuneration Committee proceeded with implementation due to the strong majority support and constructive post-AGM consultations with shareholders and proxy advisory bodies representing nearly 60% of IHG's equity. Concerns raised by dissenting shareholders primarily focused on the global peer group selection and the scale/structure of proposed remuneration changes. The committee maintained the appropriateness of its choices given IHG's business nature and the need to attract and retain leadership. Disclaimer*
About this update from Intercontinental Hotels Group Plc
[{"type":"text","content":"\n\nInterContinental Hotels Group PLC\nStatement regarding shareholder vote on the 2025 Directors' Remuneration Policy and the 2024 Directors' Remuneration Report (the Resolutions) - Shareholder Engagement and Outcome\nAt our Annual General Meeting (AGM) in May 2025, the Company presented a resolution for shareholders to approve a revised Directors' Remuneration Policy (Policy), which passed with 69.5% support. The 2024 Directors' Remuneration Report also passed with 79.0% support. The Board thanks the majority of our shareholders who supported the Resolutions of which, notably, all of our 10 largest shareholders voted in support of both Resolutions. However, as both received less than 80% support, in accordance with the UK Corporate Governance Code, the Remuneration Committee Chair led a further consultation process with shareholders and their proxy advisory bodies.\nThe Policy proposals presented at the AGM followed an extensive review led by the Remuneration Committee, with the full backing of the Board. It also included thorough and meaningful two-way engagement with shareholders owning in aggregate nearly 60% of IHG's equity and with the major shareholder proxy agencies. As outlined in the Policy, we made several modifications to our original proposals in direct response to shareholder feedback, reflecting our commitment to active and transparent engagement.\nFollowing the AGM, we wrote again to shareholders owning in aggregate nearly 60% of IHG's equity (including those who voted against) and the shareholder proxy agencies to invite further dialogue. During this consultation, while no additional requests for consultation meetings were received from shareholders who voted against the resolutions, we did receive feedback via email. Written shareholder correspondence received typically reiterated their reasons for supporting or voting against the Policy. Based on the feedback provided prior to and following the AGM, while reasons for the votes received against the Policy varied by shareholder, the main areas raised were in relation to elements of the global peer group and the scale and/or structure of the changes to remuneration proposed, with the same issues impacting the vote on the Directors' Remuneration Report itself. The Remuneration Committee stands by the appropriateness of the global peer group it selected given the ...