After its acting boss Mat Dunn took home a salary of £567,000, Asos anticipates investor backlash on executive compensation.

On January 11, the fast-fashion store will host a shareholder meeting, and investors are getting ready to revolt.

More than a third of the 15 motions have been recommended for rejection or abstention by the shareholder advisory agency Pirc.

READ MORE: ASOS LOOSENS CRITERIA FOR ANNUAL EXECUTIVE BONUS

One issue is the remuneration of interim chief executive Dunn, which reached $567,000 in the previous year’s pay report.

Moreover, Pirc described chief executive Jose Ramos’ total potential payout of £4.2 million as “excessive”.

Another shareholder adviser, ISS, recommended investors back the firm’s pay policy, but “raises concerns”.

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Pirc also took aim at chairman Jorgen Lindeman, suggesting that shareholders vote no on his re-election.

Shareholder advisers differing on resolutions is “not unusual,” according to Asos. The retailer defended its pay policies, claiming that they result in better executive performance.

Source: Retail Gazette

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