Persimmon

Housebuilder Persimmon in sights of shareholder


 

Aberdeen Standard Investments could become the first shareholder to use a new law to prosecute a director over his pay package.

The Edinburgh-based institution is said to have instructed lawyers to prepare an action against Jeff Fairburn, chief executive of housebuilder Persimmon, over his refusal to surrender a £75 million bonus.

ASI is examining the Companies Act to see whether it can sue Mr Fairburn and the rest of the Persimmon board on the grounds that it has damaged the company’s reputation, according a report in a Sunday newspaper.