Burberry faces investor revolt

Luxury goods retailer Burberry is facing a revolt over executive pay after lobby group Pirc urged investors to vote against remuneration plans. The organisation, which advises pension funds and asset managers, described pay rewards for top executives as “excessive”. Chief executive Angela Ahrendts was paid £5.8m in shares last year, equivalent to nearly six times her base salary of £990,000. Pirc has recommended that shareholders vote against the remuneration report at Burberry’s annual meeting on 14 July.