Jul 3, 2019

JD Sports faces rebellion over chairman’s £6m bonus

JD Sports faces the prospect of an investor rebellion at its annual meeting on Wednesday as it seeks shareholder approval for a £6m cash bonus for Peter Cowgill, its executive chairman. The major proxy voting agencies have recommended that investors vote against the payout. One institutional shareholder, not among the top 20, said it had voted against both the special bonus payment and general remuneration arrangements. JPMorgan voted to accept the report, as did Aberdeen Standard and Fidelity, two of the largest independent shareholders - although both voted against in the previous year. It holds a 57 per cent stake in JD Sports, but declined to comment on its voting intentions.

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