Burberry investors revolt over CEO pay deal - NEWS10 ABC: Albany, New York News, Weather, Sports

Burberry investors revolt over CEO pay deal

Posted: Updated:
  • NationalMore>>

  • Mother, daughter die after Philly food truck blast

    Mother, daughter die after Philly food truck blast

    Thursday, July 24 2014 12:53 PM EDT2014-07-24 16:53:53 GMT
    A mother and teenage daughter have died of injuries they suffered in a fiery explosion inside their food truck earlier this month, authorities said Thursday.More >>
    A mother and teenage daughter have died of injuries they suffered in a fiery explosion inside their food truck earlier this month, authorities said Thursday.More >>
  • Varying health premium subsidies worry consumers

    Varying health premium subsidies worry consumers

    Thursday, July 24 2014 12:44 PM EDT2014-07-24 16:44:49 GMT
    Linda Close was grateful to learn she qualified for a sizable subsidy to help pay for her health insurance under the new federal law. But in the process of signing up for a plan, Close said her HealthCare.gov...More >>
    Linda Close was grateful to learn she qualified for a sizable subsidy to help pay for her health insurance under the new federal law. But in the process of signing up for a plan, Close said her HealthCare.gov account...More >>
  • Gov: Senator in plagiarism row deserves respect

    Gov: Senator in plagiarism row deserves respect

    Thursday, July 24 2014 12:38 PM EDT2014-07-24 16:38:53 GMT
    Sen. John Walsh said his unattributed use of others' work in his master's thesis was not plagiarism but "a few citations that were unintentionally left out of a term paper" that he blamed in part on...More >>
    Montana Gov. Steve Bullock says he didn't know that Sen. John Walsh had plagiarized parts of his master's thesis when he appointed the former National Guard general to the Senate earlier this year.More >>

LONDON (AP) - Shareholders of luxury British fashion house Burberry have voted to reject a multimillion-pound pay package for the brand's new chief.

Results of voting at Burberry's annual general meeting Friday showed that 52.7 percent of shareholders protested the earnings Christopher Bailey is expected to receive.

Bailey was appointed chief executive in May on top of being the brand's chief designer. He received a one-time award of 500,000 shares worth some 7 million pounds ($12 million) last year and also receives 1.1 million pounds ($1.9 million) in salary, bonuses up to twice the salary and cash allowances.

Friday's vote was non-binding but it was a rare revolt by shareholders over executive salaries. Chairman John Peace said he was disappointed and he would talk to investors to try to address their concerns.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

341 Northern Blvd., Albany, NY 12204

Telephone: 518.436.4822
Fax: 518.426.4792
Email: news@news10.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Albany, Inc. A Media General Company.