SuperGroup is set to become the latest retailer to face a shareholder rebellion over director pay.
Institutional investors are understood to be concerned at the package new chief operating officer, former John Lewis director Susanne Given, has been awarded and are set to voice their discontent at the retailer’s annual general meeting on Thursday.
Given receives a £350,000 base salary as well as a guaranteed share award of £900,000 and a guaranteed bonus for 2013 of £350,000.
Shareholder group PIRC is recommending that investors oppose the pay proposals while the Association of British Insurers has put an amber alert, its second most severe warning, on the retailer’s remuneration report.
As Supergroup’s shareholder register is relatively tightly controlled and large stakes are held by its founders the remuneration report is likely to be passed at the annual general meeting.
Given was hired in April to take control of operations at the retailer which experienced a number of operational glitches in its last financial year. Earlier this year the retailer’s stock market value plummeted after it issued a profit warning following an “arithmetic error”.
SuperGroup chief executive Julian Dunkerton said the appointment of Given alongside new finance director Shaun Wills would help avoid a repeat of mistakes and brought “an air of professionalism” into the business.
A SuperGroup spokesman told the Sunday Telegraph: “We have paid what was required to make an important hire for the group. She is making a difference already – witnesss the positive results posted [last week].”