Peter Cowgill questions why they would do this ‘when the company has progressed’ The chair of JD Sports has said shareholders “may well” vote against his £4.3m bonus – which he was handed despite the retailer benefitting from millions of pounds in support during the pandemic.
The boss of the retailer JD Group has defended receiving a multimillion-pound bonus during the coronavirus pandemic, at the same time as it accepted more than £100m in government support. Peter Cowgill, the executive chairman, was awarded almost £6m in bonuses during the 12 months since February 2020, and admitted on Monday that investors might oppose the payout at next month’s annual meeting.
// JD Sports chairman Peter Cowgill rejects criticism from investors for receiving £4.3m in bonuses // Cowgill said that the pay increase in 2020 was due to a long-term incentive share plan The chairman of JD Sports has rejected criticism of the large bonus he received despite the retailer taking millions of pounds in government support.
JD Sports bracing for bruising investor rebellion after it was slammed for handing 'inappropriate' special bonuses to chairman Peter Cowgill
JD Sports is bracing for a bruising investor rebellion after it was slammed for handing 'inappropriate' special bonuses to chairman Peter Cowgill. Glass Lewis, an influential shareholder advisory group, said JD Sports' backers should vote against its pay policy. Cowgill took home £4.3m in bonuses last year – pocketing £5m in total even after he cut his salary by 75 per cent for several months.
// JD Sports is facing criticism from investors for paying £4.3m in bonuses to executive chairman Peter Cowgill // The retailer received £61m through the UK furlough scheme & received £38m from business rates relief JD Sports is facing an investor backlash after handing its boss a £4.3m bonus despite despite taking tens of millions of pounds in government support.
Whitbread, the owner of the Premier Inn hotel chain, faces an investor backlash next week after carrying over executive bonuses accrued during the pandemic despite axing jobs and using state funds to furlough employees. Sky News has learnt that one of the City's most influential voting services, IVIS, has red-topped Whitbread's remuneration report ahead of its annual meeting next Thursday.
(Adds detail and background) (Reuters) - French billionaire Vincent Bollore's family-owned group has pledged to media giant Vivendi that it will not request an exemption to file a tender offer on Vivendi's shares if it crosses the 30% threshold in capital ownership or voting rights, said Vivendi.
(Reuters) - U.S. proxy advisory firm Glass Lewis has urged shareholders to vote against the re-appointment of Toshiba Corp's board chairman Osamu Nagayama and four others nominated to the board by the company, the Nikkei business daily reported on Friday. Glass Lewis recommended opposing the re-appointment of Junji Ota, chairman of Toshiba's audit committee, the Nikkei said.
The US drugmaker Regeneron, whose Covid treatment was hailed as a “cure” by Donald Trump last year, has come under fire from two influential shareholder advisory groups over “excessive” payouts made to its top executives ahead of its annual meeting on Friday. The investor advisory group Glass Lewis said it was “highly concerned” at the New York-based firm’s decision last year to ditch annual stock options.
TOKYO (Reuters) - Proxy adviser Glass Lewis has urged SoftBank Group Corp shareholders to oppose the election of corporate lawyer Ken Siegel to the board of directors due to his professional ties with the Japanese conglomerate. The opposition is one of a number of recommendations to SoftBank shareholders ahead of the group's annual general meeting on June 23, with both Glass Lewis and peer Institutional Shareholder Services (ISS) opposing elections to auditor positions over independence concerns.
Morrisons’ chairman Andy Higginson has rejected criticism from shareholder voting agencies over the decision by the Bradford-based supermarket chain’s board to change the criteria used to calculate executive bonuses. Advisory firms ISS and Glass Lewis recommended Morrisons’ shareholders vote against the supermarket’s pay report at the annual meeting on June 10 after the board adjusted the criteria for bonuses because of a surge in Covid-related costs, according to the Sunday Times.
Boohoo's founder facing shareholder revolt over her role in sweatshop scandal in Leicester supply chain
Boohoo's founder is facing a shareholder revolt over her role in the sweatshop scandal in the Leicester supply chain. Shareholder advisory Glass Lewis has urged City investors to sack Carol Kane from the board saying she had a 'direct role' in the 'inadequate governance practices'. A report published last year found workers doing 'excessive' hours in life-threatening conditions, often on illegal low pay, across much of its UK supply chain.
An influential shareholder advisory group has recommended blocking the reappointment of Boohoo’s co-founder Carol Kane amid concerns about high pay and management’s failures to tackle poor conditions at the factories that make its clothes. Glass Lewis also advised shareholders to vote against Boohoo’s remuneration report saying that a new management incentive scheme could lead to “excessive payouts” based predominantly on the performance of Boohoo’s share price.
Key Points The Aberdeen-based company's two top shareholders, Coast Capital and Schroders, along with shareholder proxy Glass Lewis, oppose the $4.6 billion sale of First Student, the biggest school bus operator in the U.S., and outsourced public transport provider First Transit, to EQT Infrastructure.
Key Points McDonald's shareholders reelected all of the company's board members based on preliminary results, despite blowback over its firing of former CEO Steve Easterbrook in 2019. A shareholder campaign encouraged voters to oppose reelecting the board's chairman and the chair of the compensation committee.
(Reuters) - Proxy adviser Glass Lewis has recommended investors in Atlantia back an offer by a consortium led by Italian state-lender CDP to buy the infrastructure group's motorway unit."We are ultimately inclined to conclude the consortium agreement represents a suitable and certain path to resolving a long-standing and prospectively consequential impasse," Glass Lewis said in a note seen by Reuters.