Last year, British retailer Marks & Spencer convinced Ana Beatriz Barros to leave Victoria Secret and promote its new Brazilian-cut underwear.The line has been so successful, reports the Guardian, that it saved new CEO Marc Bolland from a battle over his pay package, which includes a 250% bonus on his £950,000 base salary.
There was talk of a shareholder’s revolt at the company’s annual meeting at Festival Hall on London’s South Bank this week, but since lingerie sales jumped by 3.2%, analysts say he was protected against the pushback.Pensions & Investment Research Consultants, a UK lobby group that recently encouraged shareholders to revolt at Burberry’s annual meeting, was behind the potential revolt.
The BBC reports that it wasn’t only the underwear sales that appeased shareholders; it was the meeting itself. Guests at Festival Hall were greeted with vanilla ice cream and wine, and a presentation by model Twiggy. The company’s chairman also introduced a new edition to the lingerie line.
At the previous two Marks & Spencer annual meetings, there were shareholder revolts over CEO pay packages.
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