A third of Burberry’s shareholders did not approve the salaries of top managers


Moscow. July 13. INTERFAX.RU – Holders of almost a third (31.5%) of the shares of the British Burberry Group, one of the world’s leading manufacturers of goods of class “luxury”, voted against the announced amount of remuneration to the company management at the annual meeting of shareholders, the Financial Times writes.

Shareholders Advisory firm Institutional Shareholder Services (ISS) has previously recommended to reject the proposal of the Directors, deeming their fees excessive.

It is noted that former CEO Christopher Bailey, has kept the position of creative Director of Burberry, voluntarily waived his bonus for the past fiscal year. Chief financial officer Julie brown refused part of the bonus of 2.4 million pounds ($3.1 million). On the eve Burberry released a financial indices over the past finkvartal. In particular, its comparable sales increased by 4%

Burberry, founded in 1856, produces clothing, accessories and perfumes. The special feature of the company’s products is a “cage”, which uses red, black, white and sand color.

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