Shareholders approve bonus scheme of incoming Frasers Group CEO

by | Sep 29, 2021

Frasers Group shareholders have approved a new scheme that could see incoming chief executive Michael Murray make a £100m bonus.
The company, formerly known as Sports Direct, announced last month that founder Mike Ashley’s future son-in-law Michael Murray will become chief executive in May. He is currently the group’s head of elevation.

Frasers said on Wednesday that shareholders had approved the bonus scheme, with just over 15% voting against it.

As per the scheme, Murray would receive £100m in stock if the share price reaches £15 for 30 consecutive trading days before October 2025. He will also receive a salary of £1m a year.

Advisory groups Pirc and Glass Lewis had recommended that shareholders vote against the plan.

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x