Troubled online fashion giant Asos faces the prospect of a shareholder rebellion at next month’s AGM.

Pirc, the shareholder advisory service, has urged investors to reject or abstain on more than a third of 15 motions to go before the January 11 meeting, the Daily Mail reported.

Pirc criticised Asos’ pay report for last year, when interim chief executive Mat Dunn’s salary reached £567,000. According to Pirc, payouts “raised concerns for potential excessiveness”. 

Asos’ remuneration plans for the coming year were also attacked. Pirc maintained that new chief executive José Antonio Ramos Calamonte’s total potential payout, which could be as much as £4.2m, was “excessive”.

Thinktank High Pay Centre said Asos’ board has a “highly inflated view” of directors’ importance.

Pirc was also unhappy about chair Jørgen Lindemann and advised investors to abstain on his re-election. 

Asos responded to the criticism by saying it is “not unusual” for investor advisers to take differing views on resolutions. A spokesperson argued that the etailer’s stance on pay policies encourages a strong performance from its leaders.

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