Boohoo Bows to Investor Pressure and Withdraws £1m Management Bonuses
Tuesday, 28 May 2024, 21:01
Boohoo Withdraws £1m Management Bonuses
Boohoo has made a crucial decision to withdraw a resolution from its AGM that proposed awarding £1m bonuses to founders Carol Kane and Mahmud Kamani, along with chief exec John Lyttle.
Key Points:
- Backlash from Investors: The company faced strong opposition from shareholders regarding the proposed bonuses.
- Responsible Governance: Boohoo's move aligns with a shift towards responsible corporate governance and transparency in executive pay decisions.
- Shareholder Activism: The withdrawal reflects the impact of growing investor activism on executive remuneration policies.
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