BG Group's executive pay plan draws more criticism from investors BG Group's plan to pay its incoming chief executive up to £14m a year has come under renewed scrutiny after Royal London Asset Management (RLAM), a prominent investment firm, urged the oil and gas company to call a halt to a vote on the pay package. RLAM, which holds 0.67pc of BG Group's shares, has added its voice to calls from several investors and business groups to reconsider the proposal. "We support the appointment of Helge Lund, but consider it extremely disappointing that the company decided to step outside of the pay policy, which shareholders agreed only in May," said Ashley Hamilton Claxton, the corporate governance manager of RLAM. We think the responsible thing to do is to call a halt to the vote and enter into meaningful discussions with shareholders in order to reach an acceptable outcome which motivates the CEO and clearly aligns his interests to shareholders. Barring that, we plan to vote against the pay package. The company has called a meeting on December 15 to approve Mr Lund's pay ahead of him joining as chief executive from Statoil next year. The group has been meeting with shareholders to set out the logic of the proposal, which follows a vote earlier this year that was intended to cover pay policy for the next three years. Legal & General, the Investment Management Association and the Institute of Directors are among those raising concerns in public about the package. Mr Lund's pay, if approved, would include a salary of £1.5m along with a bonus and long-term share awards worth up to six times his basic pay. Four-fifths of his maximum pay would depend on hitting goals on the company's turnaround, following a string of profit warnings under former boss Chris Finlayson. We believe Helge Lund is the right person to lead BG Group. His proposed remuneration is competitive in the international oil and gas industry. The shareholder vote on Helge Lund's pay is in line with the letter and spirit of corporate governance legislation," said a spokesperson for the company.