SIR John Peace, Burberry’s beleaguered chairman, did not return my telephone call yesterday to discuss his failure to convince the luxury group’s investors to back the controversial £20m pay package for its chief executive Chris Bailey.
His reluctance to put his case mirrors his sorry performance in the run-up to the shareholder meeting, when he allowed the opponents of the scheme to dominate the debate. It is a shame he was so reluctant to come to the phone. By all accounts, his performance on Friday was a good one. Sir John has done Bailey no favours by refusing to take every opportunity to put his case.