Pirc urges vote against 'excessive' executive pay at Aviva Pensions & Investment Reseach Consultants (Pirc) said investors should reject the group's remuneration report at its annual meeting on May 3 because of the generous packages handed to directors. The Association of British Insurers has already advised its members to consider voting against the report. The news comes ahead of a key investor day on May 24, when Aviva will provide details on its latest restructuring plan. This is likely to result in significant job cuts across its global workforce of 36,600. The company is also known have held talks about selling the company's US business. Aviva handed Trevor Matthews, its new UK chief executive, a bonus of £45,000 last year for just one month of work as part of a £4.25m welcome package. Igal Mayer, the head of Aviva's continental European business, who lost his job last week, was also handed lucrative allowances following his appointment in January 2011. Andrew Moss, Aviva's chief executive, received a £2.69m package. The next few weeks will prove pivotal for Mr Moss whom some investors accuse of repeatedly changing the group's strategy since his appointment in 2007. On Thursday it emerged that Mr Mayer along with North American boss Richard Hoskins and Aviva Investors chief Alain Dromer are to leave as part of a radical shake-up. The move was dismissed by some shareholders as "window dressing," but, Mr Moss said it would result in significant cost and revenue benefits for the group. Over the past five years, there have been things we set out to achieve in 2007 that we couldn't because of the financial crisis. However, in 2010, we said we would focus the group on core markets. We're accelerating this and I hope people will start to see what Aviva is really about.