Burberry investors back CEO pay overhaul after sizable shareholder dissent
Burberry secures majority support for a revised executive pay policy that can sharply raise CEO compensation if performance and share price goals are achieved. The vote still exposes notable investor resistance, with more than a third of shareholders opposing the changes at the annual general meeting.
Highlights
- At Burberry's AGM, 63% of votes favored the CEO pay overhaul, while 37% opposed it, following proxy adviser recommendations against the plan.
- New pay policy allows CEO Joshua Schulman potential performance share awards up to 300% of salary, with a total possible package of £12.24 million ($16.41 million).
- Schulman leads a turnaround with improved shareholder returns versus LVMH, Hermes, Kering, and Richemont, and William Jackson succeeds Gerry Murphy as Burberry's new chair.
Pay policy vote and award structure
As reported by Reuters, 63% of votes cast at Burberry's annual general meeting support the executive pay overhaul, while 37% oppose it despite recommendations against the plan from proxy advisers Institutional Shareholder Services and Glass Lewis.Under the new policy, CEO Joshua Schulman can receive performance share awards worth up to 300% of his salary. His total potential package reaches 12.24 million pounds, or $16.41 million, if Burberry meets maximum performance targets and its share price rises by 50%.
Turnaround progress and governance changes
Schulman is leading a turnaround at Burberry and has cut jobs while returning the company to profit. In a difficult global luxury sector, Burberry has delivered better total shareholder returns over the two years since he joined than larger rivals including LVMH, Hermes, Kering and Richemont.Shareholders also confirm William Jackson as Burberry's new chair, succeeding Gerry Murphy, who has held the role since 2018.
In our earlier article on National Grid’s 2026 AGM, we noted that shareholders approved all 22 management resolutions, backing record capex and a multi-year investment plan despite ongoing share-price pressure. The piece highlighted mixed technical momentum, with the stock trading below key short- and medium-term moving averages even as longer-term support remained intact.
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