Signage at the Anglo American Plc headquarters in Santiago, Chile, on April 8, 2025. Photo by Cristobal Olivares/Bloomberg

Anglo American Plc has withdrawn a resolution on executive incentives, the day before shareholders vote on its takeover of Teck Resources Ltd.

Anglo’s remuneration committee last month proposed that long-term incentive awards for 2024 and 2025 — tied to shareholder returns, cashflow, return on capital and environmental, social and governance measures — should also be linked to the Teck deal. Under the proposal, a minimum of 62.5 per cent of the awards would have vested on completion of the takeover.

That resolution has been withdrawn after concerns raised by shareholders, Anglo said on Monday, adding that the deal isn’t conditional on approval of that resolution

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