Boohoo Abandons Plan to Award £1m Bonuses to Bosses
Tuesday, 28 May 2024, 14:52
Boohoo Reverses Decision on £1m Bonuses for Executives
Boohoo, an online fashion retailer, has recently drawn criticism from shareholders for its plan to award £1m bonuses to executives despite failing to meet bonus targets.
- Shareholder Backlash: The company received complaints regarding the payouts, specifically on missed targets related to sales, profits, and IT objectives.
The subsequent reversal of the decision underscores the significance of aligning executive compensation with corporate performance.
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