Bae Systems – AGM 7 May 2020
Against a background of significant government and social challenges, and the uncertainty as to the duration of the resulting disruption, the Board believes it is in the Company`s best interests, having regard to all stakeholdersninterests, to defer the decision on the 13.8 pence per share dividend proposed by the Board when announcing the Companyns 2019 results in February.
According to the Guardian, BAE Systems sold £15bn worth of arms to Saudis during the last five years, the period covered by Riyadhns involvement in the deadly bombing campaign in the war in Yemen. The figure was provided by the Campaign Against the Arms Trade (CAAT) and Andrew Smith of CAAT said: "The last five years have seen a brutal humanitarian crisis for the people of Yemen, but for BAE it's been business as Usual."The Saudi military is BAEns third largest customer overall, after the US Department of Defence and the UKns Ministry of Defence.
Item 3: Remuneration report
Taken into account the Covid-19 uncertainty and the suspension of the 2019 dividend we consider it a wrong moment to significantly increase the CEO's salary by 6.6% bringing it to 112% of the FTSE100 median.
BAE Systems is a defense, aerospace and security solutions provider. Co. supplies defense equipment, electronics and services, and cyber, intelligence and security solutions for governments and commercial markets. Co.'s offerings include the: manufacture of Typhoon assemblies for European partner nations and other export customers; design and manufacture of sub-assemblies in the U.K. and provision of equipment in the U.S.; development of future air system capabilities, including unmanned air systems; maintenance, support and training for Typhoon aircraft in service with the U.K. and Saudi Arabian air forces; and design, manufacture and support of defense and commercial avionics equipment.
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