Burberry shareholders approved a new directors' remuneration policy at the annual general meeting, with 64.6% voting in favour and 35.4% against. The policy introduces a performance share award allowing Chief Executive Joshua Schulman to earn up to 300% of base salary on top of an existing 150% award, potentially reaching £9.5 million if all targets are met, or up to £12.2 million if the share price rises 50%. The Chief Financial Officer can earn up to 175% of salary under the new scheme. Burberry said the plan aligns with its long-term strategy and cost-saving target of £100 million annually by fiscal 2027, partly through cutting around 1,700 jobs, and noted its ten largest shareholders supported the policy.
Burberry Group PLCShareholders approved a new pay plan for executives, with 35.4% voting against, indicating mixed sentiment on the policy.