Ted Baker faces investor revolt over plans to raise exec salaries

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Ted Baker investor revolt executive pay
Ted Baker is facing backlash from its investors over plans to increase executive pay amid its battle for survival.
// Ted Baker faces shareholder revolt over executive salaries and bonuses
// An advisory firm recommended that investors vote down the retailer’s remuneration policy

Ted Baker is facing backlash from its investors over plans to increase executive pay amid its battle for survival.

Institutional Shareholder Services (ISS) has recommended that investors vote down the retailer’s remuneration policy at its AGM next week.

The advisory firm said that Ted Baker’s decision to increase executive salaries and bonuses is not justified.


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Since Ted Baker’s forced hugging scandal surrounding its founder and chief executive Ray Kelvin, last year, shareholders have suffered a string of profit warnings.

At the beginning of the year, auditors at Deloitte found that the value of Ted Baker’s stock inventory was overstated by £58 million, which was almost three times as bad as it first thought.

It was a huge increase on the initial estimates of between £20 million and £25 million late last year.

The overstatement had prompted the departure of Kelvin’s successor Lindsay Page in December.

The shares, which closed at 69p on Friday, have lost about 95 per cent of their value in the past two years.

Rachel Osborne, promoted from finance director to chief executive, is paid £525,000, 14 per cent higher than Page.

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2 COMMENTS

  1. Didn’t they have some 40 million accounting irregularity the other year? Wasn’t the boss a sexual predator? Sound like a lovely bunch, i think they deserve a pay rise as well.

    • Especially as they are now cutting head office staff in half and planning on making lower paid staff redundant in the next couple of months which they have been keeping hush hush!!
      …but yes by all means give the people at the top a bigger salary…don’t worry about the low paid grade staff who rely on their jobs for their families and keep a roof over their head

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