Burberry investors give company a slap on the wrist over directors' remuneration report

 
Josh Mines
Burberry Brings London To Shanghai - Inside
Around 10 per cent of shareholders of the fashion brand voted against the pay report (Source: Getty)

Burberry had its wrists slapped by investors today as a handful voted against its remuneration report at the company's annual meeting.

Over 10 per cent of investors voted against the company's annual pay report for its directors for the year ending 31 March 2018.

A far higher proportion of shareholders voted against directors' pay last year, as nearly a third staged a revolt against the report, which included a £3.5m pay package for former chief exec Christopher Bailey.

Read more: Burberry looks to Beyonce for a lesson in business

Burberry's trading statement this week showed sales were up by three per cent in the first quarter, while revenue was almost flat, going up to £479m compared to £478m for the same period last year.

It also announced a new strategy of releasing new products regularly to build hype with fashionistas.

The company has faced a huge amount of change over the past year, as Bailey left the company in October to be replaced by Marco Gobbetti, while former Kingfisher chief exec Gerry Murphy joined the board as chairman.

Read more: Burberry announces collaboration with Vivienne Westwood

Related articles