RELX presented a new remuneration policy at their AGM which addresses many of the concerns we had with the previous remuneration policy.
The new policy has been simplified with two schemes in place instead of four. In addition, the company no longer provides options and has abandoned the share matching program.
However, some concerns have not been addressed, importantly the potential excessiveness of the total remuneration package. Also, the long-term incentive plan has a three-year vesting period, which we would prefer to be longer. We will continue to engage with the company about these concerns.