Retailer Currys hit by revolt over executive pay
Retailer Currys hit by revolt over executive pay
Currys has become the latest company to be hit with a shareholder rebellion over executive pay.
At last week’s annual meeting, more than 21 per cent of voters rejected the electronics retailer’s pay scheme for 2022 – which handed chief executive Alex Baldock £2.2 million. Around £1.2 million of this was in the form of bonuses.
Currys said it would speak to shareholders to find out why they objected to the scheme.
Rebellion: More than 21 per cent of voters rejected the electronics retailer’s pay scheme for 2022
Any revolt of more than 20 per cent of votes sees the company automatically added to a list of rebellions kept by the Investment Association.
A slew of major firms have already clocked up rebellions this year, including Unilever, Pearson, Ocado and HSBC.
Currys separately said last week that its focus on the UK was paying off, with turnover improving at the end of the summer.
It said that sales of appliances and mobile phones were particularly strong.