Almost one in five shareholders of fashion retailer SuperGroup opposed the re-election of management and pay proposals at the company’s annual meeting on Thursday.
A total of 18% of votes cast by shareholders opposed the re-election of chief executive Julian Dunkerton, while 15% voted against Supergroup’s remuneration report. 17% were against the election of Susanne Given to the board as the new chief operating officer.
It is a significant rebellion from shareholders, given that 63% of the retailer’s shares are held by management and the founders of SuperGroup.
Shareholders are understood to be concerned about the performance of SuperGroup following a series of profit warnings as well as supply chain glitches and reporting errors.
A spokesman for SuperGroup told The Telegraph: “We respect that the last year has not been without problems. A changed performance in the company is what shareholders are after. We are putting in place measures to make sure that happens.”
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