W H Smith delays Cowling pay rise after shareholders object

W H Smith delays Cowling pay rise after shareholders object

W H Smith has delayed a £25,000 pay increase for c.e.o. Carl Cowling after 33% of voting shareholders opposed the company's remuneration plans at this week's annual general meeting.

When Cowling joined the retailer in November 2019, his salary was set at a lower level to his predecessor with the company agreeing to increase it by £25,000 annually for three years, subject to performance.

Cowling was awarded the first increase, which brought his salary to £550,000, from 1st July 2020, despite recording a headline loss of £69m in the year to end August 2020 and announcing cost-cutting measur...

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