AVIVA INVESTORS REPORTED UNIMPRESSED BY MOSS'S SALARY INCREASE WAIVER

UK-based composite Aviva still looks likely to face a rough ride from institutional investors at its annual general meeting later this week, despite CEO Andrew Moss deciding to decline his salary increase this year and the chairman of the remuneration committee stating that it would review how it would compensate future joining executives. The Financial Times quoted one unnamed top-10 shareholder as saying that "no-one supports Moss". Although Mr Moss declined his 4.8%, £46,000 pay increase, the FT noted that Mr Moss's pay package was up by 8.5% in 2011, despite a 25% decline in the company's share price.