The resignation of Aviva's group chief executive, Andrew Moss, over his multi-million pay packet yesterday must have had a special irony for the firm's corporate-governance team. For many years, it has been one of the leading lights in championing shareholder rights and restraint on executive pay.

Moss said yesterday he would step down from the helm of one of the UK's biggest insurance groups, after 59% of the company's shareholders voted against its executive pay plans, which could have seen Moss pick up as much as £5.2m if share-plans were included. He walks away with a £1.75m severance package.