// Shareholder adviser Glass Lewis said it had “serious reservations” about the plan
// These concerns have been raised for the second year in a row
Frasers Group CEO Michael Murray has come under fire over a plan that would hand him a bonus of £100 million.
The boss of Sports Direct’s parent company and son-in-law of Mike Ashley, will be awarded the multi-million sum if he manages to increase the share price to £15 by 2025.
However, according to This is Money, shareholder adviser Glass Lewis said it had “serious reservations” about the plan.
The firm has urged shareholders to vote against the potentially “excessive” deal at its annual meeting this week.
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These concerns have been raised for the second year in a row, as experts fear Murray will be rewarded as “a consequence of market conditions” rather than his own performance.
In July shares in the group increased to £9.50 in July as customers hit up the high street as Covid-19 related restrictions ended.
However, since then the price has since fallen to £6.48 as consumers face the ongoing cost-of-living crisis.
The news comes as the founder of Frasers Group and Murray’s father-in-law, Mike Ashley will step down from his role as a director on the Sports Direct and Flannels owner’s board at the AGM.
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