Latest news with #executivepay
Reuters
4 days ago
- Business
- Reuters
ISS recommends against Shari Redstone's re-election to Paramount board
June 24 (Reuters) - Proxy adviser Institutional Shareholder Services said on Tuesday Paramount Global (PARA.O), opens new tab shareholders should vote against the re-election of four directors to the board, including the media company's chair Shari Redstone. A vote against their re-election is warranted as the directors maintained a "problematic capital structure", ISS said in a report dated June 23, recommending votes against Redstone and governance committee members Barbara Byrne, Linda Griego and Susan Schuman. ISS also cited concerns with Paramount's executive pay plans including what it called a "relatively large influence" of individual performance on annual bonus payouts for recommending votes against three of the directors, who serve on the company's compensation committee. Paramount is seeking to close its $8.4 billion merger with Skydance Media, which is pending regulatory approval. The company earlier this month nominated three new directors to its board, and ISS has recommended a vote for the nominees. Paramount is scheduled to hold its annual stockholder meeting on July 2.
Bloomberg
4 days ago
- Business
- Bloomberg
Paramount Investors Shouldn't Back Shari Redstone as Director, ISS Says
Institutional Shareholder Services told clients to not support the reelection of four Paramount Global directors, including Shari Redstone. The proxy adviser said the no votes were warranted because the directors had allowed the company to maintain a 'problematic capital structure.' ISS recommended shareholders vote against three of the directors who serve on the compensation committee because it has issues with Paramount's executive pay plans.
Yahoo
5 days ago
- Business
- Yahoo
Ralph Lauren's Pay Package Tops $24 Million
The march higher at Ralph Lauren Corp. — which has seen the company steadily elevate its brand and sharpen operations — is paying off for the C-suite. Ralph Lauren, executive chairman and chief creative officer, saw his total pay rise 22.6 percent to $24.2 million last year. That included incentive pay of $11.2 million, stock awards valued at $11 million and a salary of $1.8 million, according to the company's proxy statement. More from WWD Kate Middleton Embraces Power Dressing in Blue McQueen Suit for Museum Visit Nantucket Jeweler and Marissa Collections Face Legal Fight After Potential Deal Dissolves Ralph Lauren Tops Q4 Estimates, but Sees Sales Growth Slowing This Year Patrice Louvet, president and chief executive officer, also saw a pay boost, with his compensation increasing 38.8 percent to $23.1 million. The CEO's take included stock awards valued at $13.5 million, incentive pay of $8.1 million and a salary of $1.4 million. Stock awards are a standard feature of executive pay, tying the compensation packages to the fortunes of other shareholders as they only pay off if the company performs in the market. The proxy statement is filed with regulators and sets up the company's annual meeting on July 31. The schedule for the virtual meeting shows it should be a relatively routine affair. But Lauren and Louvet did start to hype the company's progress in a letter to shareholders included with the proxy. 'As we completed the third and final year of our 'Next Great Chapter: Accelerate' strategic plan, Ralph Lauren delivered on all key commitments and is in a position of strength — consumers across generations and cultures are connecting deeply with our iconic brand, timeless products and elevated experiences around the world,' the executive pair said. 'Our progress is rooted in our purpose — to inspire the dream of a better life through authenticity and timeless style — which guides our teams every day… 'In a complex global operating environment, we are in a position of strength,' they said. 'We have proven resilience in our business model and remain focused on the opportunities across our brands, categories, channels and geographies to deliver long-term growth and value creation for the years to come.' Shares of the company rose 16.8 percent during its fiscal year ended March 31, and are up nearly another 20 percent since then, leaving it with a market capitalization of roughly $16 billion — one of the best valuations in the American fashion industry. Ralph Lauren also laid out some changes in the boardroom going forward. After the annual meeting, former Burberry and Apple retail chief Angela Ahrendts will become the company's lead independent director. She has been on the board since 2018. Ahrendts succeeds Hubert Joly, who is not seeking reelection after 16 years on the firm's board. 'Hubert has been an integral part of our board and has been instrumental in guiding and supporting our strategy, while embodying the passion and dedication that define our brand,' Lauren said. The designer also welcomed Ahrendts to her new role and said she 'has consistently offered valuable guidance and brought her perspective as a respected innovator in the industry.' With Joly's departure, the board will have 11 directors. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Daily Mail
20-06-2025
- Business
- Daily Mail
Mitie's boss takes £10m pay cut - but he still banks £6.5m
Mitie's boss has taken a £10m pay cut – but he still took home £6.5m. Phil Bentley hit the jackpot when he was awarded a one-off bonus worth £11.2m at the cleaning, security and waste management group, taking his total pay in 2024 to £16.7m. The sum was linked to Mitie's takeover of rival outsourcer Interserve's facilities management arm in 2020. The windfall was not repeated this year, meaning his pay fell to £6.5m. Despite the huge drop Bentley, 66, has still bagged almost £40m since becoming chief executive in 2016. Mitie was named Britain's most unequal company this week by the High Pay Centre think-tank. Bentley was paid 653 times more than the typical employee in 2024.
Bloomberg
19-06-2025
- Business
- Bloomberg
Big Pay Packages Spark Growing Dissent Among UK Shareholders
Shareholder dissent over executive pay at British companies is rising just as firms seek to bolster pay packages to remain internationally competitive. Three times as many companies faced opposition from more than 20% of shareholders so far this year compared with the same period in 2024, data from proxy-solicitation firm Georgeson Inc. shows.
