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Report: StanChart CEO to take pay cut to settle pensions dispute with investors

Standard Chartered PLC CEO Bill Winters is considering a voluntary pay cut as he seeks to end his compensation dispute with the British lender's investors, sources told the Financial Times.

An announcement is expected later this year or in early 2020, after months of negotiations between StanChart and its shareholders over the bank's latest remuneration package.

Under the company's package, Winters will receive pension contributions described as 20% of his total salary, which is his cash salary and a share-based equivalent payment.

Roughly 36% of the lender's investors rejected the pay policy at its May annual general meeting, while Winters further fueled the dispute during an interview with the FT in July when he branded shareholders protesting against his pension as "immature and unhelpful."