Retailer Currys is hit by a revolt over executive pay
Retailer Currys is hit by a revolt over executive pay
Currys is the latest company to be hit by a shareholder rebellion over executive pay.
At last week’s annual meeting, more than 21 percent of voters rejected the electronics retailer’s 2022 pay scheme, which gave chief executive Alex Baldock £2.2 million. Around £1.2 million of this was in bonuses.
Currys said it would speak to shareholders to find out why they objected to the deal.
Rebellion: More than 21 percent of voters rejected the electronics retailer’s compensation plan for 2022
If there is a revolt of more than 20 percent of the vote, the company will automatically be added to a rebellion list maintained by the Investment Association.
A number of major companies have already seen revolts this year, including Unilever, Pearson, Ocado and HSBC.
Currys said separately last week that its focus on the UK had paid off, with sales improving at the end of the summer.
Sales of household appliances and cell phones were particularly strong, it said.