By Ian Jones, 29 June 2001 08:30
NEWS Marconi bosses have finally agreed not to revalue their share options following pressure from investors in the telecoms equipment maker. Company executives were keen to re-price their share options upwards in the wake of the market downturn, according to the Financial Times. However, investors took the view that share options should be an incentive to make the company do well rather than a key part of executives pay packages. Since the tech slide began early last year, only a handful of companies have succeeded in gaining shareholder approval for such re-pricing schemes. Among them is UK software firm InterX.
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