Burberry investor Royal London to vote against report on remuneration
London — Burberry investor Royal London Asset Management expressed continued concern about corporate governance at the British luxury brand and said it would vote against the company’s pay report. Royal London holds a 0.5% stake in Burberry, whose executive pay policies have faced persistent investor criticism. The asset manager also said it would vote against the re-election of chairperson John Peace and remuneration committee chair Fabiola Arredondo, at Burberry’s annual shareholders’ meeting on Thursday. "While the board has made some improvements since the last shareholder rebellion three years ago, the chaotic response to several remuneration issues this year has heightened our concerns about poor corporate governance at Burberry," Ashley Hamilton Claxton, Royal London’s corporate governance manager, said in a statement on Monday. Back in 2014 nearly 53% of votes cast at its annual shareholder meeting opposed the board’s remuneration report. Hamilton Claxton criticised only a s...
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