A.G. Barr, the Cumbernauld-based maker of Irn-Bru, Rubicon energy drinks and Funkin cocktail mixers, was given a black eye by shareholders at its AGM on Friday when 33.53% voted against the directors’ remuneration policy.
“The board notes the minority vote against Resolution 2 (the approval of the directors’ remuneration policy),” said A.G. Barr.
“We will consult and engage with relevant shareholders to understand their views and will provide an update within six months as required by the UK Corporate Governance Code.”
A.G. Barr also announced board changes.
Former Whitbread HR Director Louise Smalley will join the board on June 1, 2023, as a non-executive director and Julie Barr will join the board with immediate effect as a non-executive director.
As planned, Robin Barr has resigned as non-executive director of the company with effect from the close of today’s AGM.