Frasers shareholders approve £100m bonus for Mike Ashley’s prospective son-in-law – CityAM : CityAM

Shareholders in Mike Ashley-led retail giant Frasers Group have approved the firm’s pay deal which could hand incoming chief executive, and prospective son-in-law of Ashley, Michael Murray, with a £100m bonus.

Frasers said it easily passed the 50 per cent needed to approve the package, with just over 15 per cent of shareholder votes cast against the deal.

Influential advisory groups Pirc and Glass Lewis advised shareholders to vote against the remuneration plan, which would hand Murray the bumper bonus if the company reaches roughly double its current share price for a consecutive 30-day period at any point over the next four years.

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