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    MRW   GB0006043169

WM MORRISON SUPERMARKETS PLC

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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

WH Smith moves to pacify investors angered over executive pay

06/24/2021 | 12:47pm EDT

June 24 (Reuters) - WH Smith said on Thursday it would talk to investors while framing its pay policy for next year after nearly a third of the British retailer's shareholders voted against directors' compensation at a general meeting held in January.

Executive pay and rewards have been under investor scrutiny in Britain after companies took hefty government aid during the pandemic and furloughed staff to save cash. Several companies, including Morrisons and AstraZeneca, have faced significant revolt or have had their policies rejected.

"While (the resolution) to approve the directors' remuneration report was passed, we acknowledge that a significant minority of shareholders, approximately 33%, chose not to support this resolution," WH Smith said in a statement.

When shareholders rejected the resolution in January, WH Smith said the primary concern was around a 25,000 pounds ($34,780.00) increase in Chief Executive Officer Carl Cowling's package in July last year.

The FTSE-250 listed company had then said the hike was in line with a policy approved in 2019, which included the option to raise Cowling's annual pay by that amount for three years after his appointment, based on performance.

It said it had spoken to shareholders before the meeting in January and the increase to Cowling's salary, which was scheduled for April, would be postponed until an "appropriate" time, but was unlikely to be implemented in the fiscal year ending Aug. 31.

The retailer, whose shops selling newspapers, sweets and crisps are a fixture of UK high streets, hospitals and airports, said on Thursday it would also talk to advisory bodies before putting a new policy to vote.

($1 = 0.7188 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Sriraj Kalluvila)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -0.11% 8268 Delayed Quote.12.89%
FTSE MID 250 INDEX -0.44% 22948.83 Delayed Quote.12.51%
WH SMITH PLC -1.25% 1625 Delayed Quote.7.62%
WM MORRISON SUPERMARKETS PLC 1.13% 267.6 Delayed Quote.50.89%
All news about WM MORRISON SUPERMARKETS PLC
07/30FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
07/30WM MORRISON SUPERMARKETS : UK Compeition Regulator Flags No Concerns Over Fortre..
MT
07/30London Shares to Open Lower After Asia Falls, US Gains
DJ
07/30M&G Rejects Morrisons Takeover
CI
07/30SCHRODERS' : Decision on Fortress' $8.8 Billion Offer for Morrisons Not Yet Fina..
MT
07/29M&G : Likely to Oppose Fortress' $8.8 Billion Takeover Bid for Morrisons
MT
07/29M&G says $8.7 bln Morrisons bid doesn't reflect company's true value
RE
07/29WM MORRISON SUPERMARKETS : HSBC Bank Plc - Form 8.5 (EPT/RI) - Wm Morrison Super..
AQ
07/28WM MORRISON SUPERMARKETS : Morrisons Shareholder JO Hambro Says Fortress' $8.8 B..
MT
07/28London Shares Close Up as Covid Cases Continue to Fall
DJ
More news
Financials
Sales 2022 18 117 M 25 179 M 25 179 M
Net income 2022 343 M 476 M 476 M
Net Debt 2022 2 529 M 3 515 M 3 515 M
P/E ratio 2022 19,5x
Yield 2022 2,75%
Capitalization 6 455 M 8 976 M 8 970 M
EV / Sales 2022 0,50x
EV / Sales 2023 0,48x
Nbr of Employees 118 000
Free-Float 98,8%
Chart WM MORRISON SUPERMARKETS PLC
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Technical analysis trends WM MORRISON SUPERMARKETS PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Last Close Price 267,60 GBX
Average target price 250,65 GBX
Spread / Average Target -6,33%
EPS Revisions
Managers and Directors
David T. Potts Chief Executive Officer & Director
Michael Gleeson Chief Financial Officer & Director
Andrew Thomas Higginson Independent Non-Executive Chairman
Trevor John Strain Chief Operating Officer & Director
Rooney Anand Senior Independent Non-Executive Director
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