More than twice as many FTSE 100 companies have faced shareholder rebellions over executive pay this year compared with last year, despite an overall drop in pay packets, as investors took a harder line on pay fairness during the Covid pandemic. This year, the number of FTSE 100 companies receiving “low votes” – with less than 80% of shareholders in favour – on their annual remuneration report more than doubled to 12%, from 5% in 2020, according to Deloitte’s annual FTSE 100 executive remuneration report. The analysis covers 58 companies which have held their annual meeting this year. The rise in protest votes came despite a majority of companies showing more restraint on executive pay. The median FTSE 100 chief executive pay package for 2020 fell to £2.85m, from £3.3m in 2019. The research also found that salary freezes were implemented for more than half (about 55%) of FTSE 100 chief executives for 2021. Stephen Cahill, vice-chairman at Deloitte, said: “Shareholders were clear at the outset of the pandemic that decisions on executive pay should reflect the wider workforce, investor and societal impact of the Covid-19 pandemic. “While the vast majority have shown restraint, investors remain focused on pay fairness and will vote against remuneration reports where executives are seen to be insulated from the wider stakeholder impact.” This week, JD Group, which owns JD Sports and other chains, became the latest company to be hit by a shareholder revolt over executive pay. Its boss, Peter Cowgill, was paid almost £6m in bonuses since February last year, despite the company accepting more than £100m in government support. Other companies that suffered big protest votes over pay schemes for top bosses running into millions of pounds include Foxtons, Cineworld, Aston Martin and Morrisons. Deloitte said just under one-third (31%) of executives received no annual bonus for 2020, a big rise from 6% in 2019. More than 95% of companies have also agreed to cut executive pensions, with the majority committing to align management pension rates with those for the wider workforce by the end of next year.