Top UK firms doing better on incentive plans - Fidelity Worldwide

LONDON (Reuters) - Britain's top-100 companies are showing "good progress" in making the long-term incentive plans of their top executives more aligned with investors' interests, the global chief investment officer for Fidelity Worldwide Investment said.

Forty-two FTSE 100 <.FTSE> firms now ensured that those who ran the company could not access the bonuses contained within their LTIPs for five years, Dominic Rossi said.

The progress was less pronounced in the FTSE 350 <.FTLC>, however, with just 87 companies signing up to a Fidelity Worldwide campaign to secure a minimum five years.

In the current 2015 season for annual general meetings, which is just drawing to a close, Rossi said Fidelity Worldwide voted against at least one remuneration proposal at 56 percent of meetings hosted by FTSE 350 firms.

(Reporting by Simon Jessop; editing by Carolyn Cohn)