Lewis executive pay set to return to spotlight at AGM
AT 2015’s drama-filled annual general meeting (AGM), 40% of Lewis Group’s shareholders voted against the company’s remuneration policy — it is a record level of opposition for the remuneration policy of a JSE-listed company.That record may be broken at 2016s Lewis AGM, scheduled for August, as shareholders express their increasing frustration at the continued absence of details to justify multimillion-rand remuneration packages.Their frustration will be heightened by the more than 40% collapse in the share price since the 2015 AGM.Earlier this week, two of the executive directors of the troubled furniture retailer, Johan Enslin and Les Davies, were granted share awards worth several million rand.The SENS statement shows the shares were granted (at no cost to the executives) in terms of the company’s long-term and short-term performance scheme, "subject to the achievement of performance targets".There are no details of which targets have to be met before the two executives get owners...
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