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Brian McBride pay package angers Asos shareholders

Shareholders at etailer Asos are concerned over the financial package for its new chairman Brian McBride, it is understood

Former Amazon boss McBride could be entitled to a £300,000 payout in the event of a takeover of Asos.

The news comes after it was reported last week that Amazon had already considered acquiring the young fashion retailer.

McBride’s unusual reward has angered investors, who feel that it risks compromising the independence of the incoming chairman in the event of a bid approach, the Telegraph reported.

It is understood that Standard Life - one of Asos’s biggest shareholders with a 6% stake - has expressed its concern to the board.

McBride is due to take up his new position on Thursday. He replaces Lord Alli, who cashed in £16.7m of Asos shares last week as part of a £50m share sale by directors.

McBride will be issued with £100,000 of shares in Asos on November 1, 2012, 2013 and 2014.

However, the 56-year-old’s service contract also states that he is entitled to a “potential early award in the event of the company being subject to a change of control or takeover”.

The early award would be subject to approval from the remuneration committee.

A spokesman for Asos said: “This package reflects the high calibre of this important appointment and aligns the new chairman directly with shareholders’ interests.”

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