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She added: "Royal Mail has yet to put remuneration proposals to its shareholders including the government which remains the company's largest shareholder.
The remuneration proposals tie into some of the things that need to happen in the labour market as a whole to help economic stability; there should be more of a sense of companies growing their own and encouraging employees to stay with the same bank.
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But have you ever voted on a remuneration proposal?
The shareholder objection came after 54 percent of shareholders in Aviva, the British insurance company, voted against the company's executive remuneration proposal in May, and 67 percent of investors in Cairn Energy rejected the oil company's compensation plans.
"We've agreed that the F.S.B. will come back to Pittsburgh with proposals on remuneration".
The juggernaut of shareholder engagement kept rolling in 2016 as a surge of one-off campaigns, governance-related proposals and remuneration crackdowns made for a busy year.
Under the EU's proposals on remuneration, bankers' bonuses already deferred and subject to clawback will be limited to two-times salary.
The chancellor argued that Britain already had the toughest regime in the world on bankers' remuneration and that the proposals to cap bonuses could "have a perverse effect".
That increase might be quite considerable, given that half of total sales by some banks are supposedly distributed as bonuses to staff, meaning much of that remuneration would, under this proposal, not be tax allowable.
Companies should appoint at least one employee representative to sit on board committees that decide executive pay, MPs have recommended in proposals to curb excessive remuneration packages.
We will of course discuss proposals with their remuneration committee to understand their thinking behind any changes.
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