Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Burberry shareholders vote against Christopher Bailey's pay package

Burberry shareholders staged a revolt against chief executive and chief creative officer Christopher Bailey’s pay scheme today, with 52.7% of investors voting against the company’s remuneration report.

The vote, which is non-binding meaning Burberry can choose to ignore it, was held at the British luxury retailer’s AGM today.

Bailey receives a £1.1m basic salary and an additional £440,000 cash allowance and an annual cash bonus of up to twice his salary, as well as share awards of up to four times salary. Last year he was given a one-off award of free shares worth almost £15m.

Burberry issued a statement saying “we are acutely aware that he could command a much higher package outside of the UK.” It is not clear yet whether they will make any changes to his pay packet.

Chairman Sir John Peace said: “After another strong trading update in which retail sales were up by 17%, we are pleased that shareholders have voted in favour of all binding votes on our remuneration policy, share plans and board appointments. However it is disappointing that the advisory vote for this year’s remuneration report did not have the same level of support.”

The vote comes shortly after the Investment Management Association issued an “amber top” warning, thought to be in relation to Bailey’s pay.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.