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Darty chief executive forced out following shareholder rebellion
THE SHAREHOLDER Spring yesterday reappeared after a long summer break as investors in Anglo-French retail firm Darty voted against the company’s pay deal.
Chief executive Thierry Falque-Pierrotin agreed to step down in advance of yesterday’s AGM following an argument over the lack of performance conditions attached to a €775,000 (£620,000) “golden hello” he received after joining the firm in 2009.
Darty, which offloaded electronics retail firm Comet for £2 in February, had mistakenly told investors that the sum would be linked to share performance, although this was not the case.
In total, 58 per cent of investors voted against the remuneration report.