Aberdeen says backs Imperial Brands decision to ditch pay policy plan

LONDON (Reuters) - British fund firm Aberdeen Asset Management (ADN.L) said on Thursday it welcomed a decision by Imperial Brands (IMB.L) to ditch a proposal to change pay plans for its directors at the firm's impending annual meeting.

Imperial's announcement earlier on Thursday that it would not put a planned resolution to the vote on Feb. 1, in response to shareholder concerns, had come "rather late in the day", said Aberdeen's deputy head of UK and European Equities, James Laing.

"Remuneration policies need to be simple and reflect the broad context. Hopefully when it comes to formulating the revised remuneration policy this will be fully reflected in the engagement with shareholders," he said in a statement.

Aberdeen is the 12th biggest investor in Imperial Brands, with a 1.44 percent stake, Thomson Reuters data showed.

Imperial Brands said in the earlier statement that its directors would continue to be assessed according to the metrics agreed by shareholders at its annual general meeting in 2015.

"While we received considerable support, it is clear that views have changed over time and that the right course now is to withdraw resolution," Imperial's chairman, Mark Williamson, said.

(Reporting by Simon Jessop; editing by Carolyn Cohn)