Burberry Management High Salary Is Opposed By Shareholders.

According to the world clothing and shoe net, the Burberry Group PLC (BRBY.L) Boboli group's high salary has no accident. Many shareholders opposed it at the shareholders' meeting on Thursday. About 31.5% of the shareholders voted against the group's compensation report on Thursday. It was the most opposed vote since the 2014 financial year general meeting.

At the end of last month, two investors advisory bodies issued a warning to the British company, calling on investors to oppose the largest British market.

Group's remuneration report for management.

Investment Association (IA) and Institutional Shareholder Services (referred to as ISS), which exert pressure on the Burberry PLC Boboli group, are believed to affect about 1/4 of the shareholders of the Burberry PLC bolberry group.

At the shareholders' meeting, Pensions&Investment Research Consultants (referred to as "Pirc") also joined the pressure team.

Despite the backdrop of the Burberry PLC boboley performance in the 2017 fiscal year, the Group CEO and chief creative officer Christopher Bailey's salary increased by 84% to 3 million 500 thousand, including 1 million 400 thousand of the share award.

Under pressure from investors, although Christopher Bailey is about to step down next week, he can get 600 thousand group shares worth about 10 million 500 thousand pounds, which is part of his 1 million share award when he was promoted to CEO in 2013.

The annual salary of the president after he dropped the presidents still maintained the level of 1 million 100 thousand pounds, which was in line with the new CEO Marco Gobbetti that was to be fulfilled.

ISS said that Christopher Bailey's salary itself is higher than the FTSE 100 FTSE 100 index CEO average wage, which is unfair to its additional 5 million 400 thousand pounds incentive. The organization also dissatisfied with the current chief operating officer of the group and chief financial officer Julie Brown's remuneration, which is considered to be too expensive for the company to take 4 million of her equity incentive and 550 thousand cash compensation from her medical technology company Smith&Nephew PLC (SN.L).

Under the pressure of institutional groups, Burberry PLC boboley announced last month that Julie Brown had abandoned the 75% equity incentive of its former company.

Group Chairman John Peace also continued to maintain management compensation, saying that Julie Brown's return to the former owner's equity incentive proved to be broad-minded, adding that the addition of Julie Brown was not due to the cash compensation provided by Burberry PLC bolberry.

Fabiola Arredondo, chairman of the Burberry PLC Boboli compensation committee, said that since holding the position in August last year, he has been insisting on active contact with shareholders, relieving shareholder concerns and believing that Julie Brown is a real industry star.

For the encouragement of Burberry PLC Boboli, Julie Brown has decided to return 1 million 600 thousand of it. After the shareholders' meeting, she said that in view of the current situation, this practice is correct.

In addition to the opposition to the remuneration report, the continued nominated John Peace also received 9% of the vote, but John Peace has decided to leave next year, and the company is looking for a new chairman.

One day before shareholders' meeting, Burberry PLC boboley released the first quarter performance report. The report showed that the same group store sales in the first quarter of June 30th achieved a 4% growth rate, better than the fourth quarter and analysts' forecast of 2%, and the highest growth rate since the first quarter of fiscal 2016.

Among them, the growth rate in the Asia Pacific region is 14%-16%, and EMEIA has a high single digit growth rate, which is slower than the double-digit figures in the second half of fiscal year 2017 as of March 30th, and the Americas are still shrinking.

Julie Brown told analysts at the performance press conference that the UK's domestic demand is still strong, growing at double-digit rates. But with the British referendum going on for over a year, the overall growth in the UK market has begun to decline.

As for another growth market, China, Julie Brown points out that the confidence of Chinese consumers has rebounded and strengthened the growth of the mainland and Hongkong.

Group retail revenue rose 13% to 478 million pounds in the first quarter, slightly better.

The expected 471 million pounds.

Excluding exchange rate effects, it narrowed to 3% and was flat in the second half of fiscal year.

This is the first earnings report of Marco Gobbetti, chief executive of Burberry PLC Bob Lee, after taking the CEO title from Christopher Bailey earlier this month.

In the quarterly report, he said he was "happy" to start the work of Burberry CEO, and the performance in the first quarter was satisfactory. However, the Burberry and luxury goods industry are still undergoing major changes, so they will continue to attach importance to the next work.

During the period, the group further reduced SKU. In May, the number of SKU decreased by more than 10% compared with the same period last year. Meanwhile, leather goods sales achieved 14%-16% growth, and the new DK88 was positively reacted by customers.

The group pointed out that the main line stores still face challenges, but the conversion rate has increased compared with the same period last year, and the consumption of high-end repeat customers has also contributed to growth.

In e-commerce, sales of mobile terminals are already occupied.

40%, on the other hand, China's online sales doubled year by year.

Marco Gobbetti also released a signal of cooperation with Christopher Bailey at the shareholders' meeting, saying that the latter was one of the important reasons why he joined Burberry PLC Boboli, and the two had the same values and vision.

He also said that it will improve the group's product and retail strategy, especially in the Asia Pacific market with a large share of the group.

However, he declined to comment on the group's pay system.

The basic annual salary of Marco Gobbetti in Burberry PLC bobury is 1 million 100 thousand, and the annual salary of 30% of the pension is equivalent to 200% of the basic annual salary. Besides, it also includes the preferential rights and interests of group products twenty percent off.

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