Burberry CEO Angela Ahrendts faces pushback from one of the UK’s biggest lobbyist groups, Pensions & Investment Research Consultants (Pirc), which advised shareholders to take a hard line next week, when the luxury goods company holds its annual meeting. The Guardian reports that last year Ahrendts took a $9.2 million share payment, about six times her base salary, which Pirc found “excessive.”
Granted, the company is doing well: its stock rose 237% over two years. In May, the London-based company announced plans to double spending on new stores and renovation around the world — especially in China, where business is up 30%.
“The luxury market has turned around,” Ahrendts told CNBC in a recent interview. “It’s up double digits around the world.”
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