WH Smith faces investor pay revolt amid cost-of-living crisis

WH Smith faces investor pay revolt amid cost-of-living crisis

The high street retailer WH Smith has been plunged into a major pay row with investors amid heightened tensions over boardroom rewards as Britain grapples with a deepening crisis over pressure on household bills. Sky News has learnt that three of the main proxy advisers which issue guidance to City shareholders ahead of annual meetings have signalled their opposition to a £550,000 bonus for Carl Cowling, WH Smith's chief executive. A substantial proportion of investors are expected to vote against both the company's remuneration report and pay policy at next Wednesday's AGM. The revolt threatens to turn WH Smith into the year's first big target of a 'fat cat' pay row, even as listed businesses anticipate demands to show restraint amid soaring energy bills and other living costs. City insiders …
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