Partner Article

Sports Direct shareholders stop Ashley bonus scheme

Shareholders at Sports Direct International plc have vetoed a scheme that could have seen Mike Ashley pocket a £26m bonus.

The “super-stretch” scheme would have provided Ashley with eight million shares in 2018, if the store met a series of targets.

Shareholders did not vote in sufficient numbers to clear the scheme at the company’s Annual General Meeting yesterday.

Dave Singleton, non-Executive Director and Chairman of the Remuneration Committee, commented: “As a Board, we are very disappointed that this resolution was not passed, however we respect shareholders’ views.

“We will, however, continue to look at innovative incentive programmes for all of our people to help drive growth and in turn, increase shareholder value. As such, a new Super Stretch Share Scheme with further performance criteria will be proposed to shareholders at a future meeting.”

This was posted in Bdaily's Members' News section by Tom Keighley .