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Article

10 Sep 2014

Author:
Alan Tovey, Telegraph (UK)

Sports Direct suffers 'revolt' over directors' pay

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Sports Direct has suffered a shareholder revolt over pay once majority owner Mike Ashley’s huge stake in the FTSE 100 business is discounted....[A] representative of lobby group ShareAction... questioned the chairman Keith Hellawell about the company about its use of zero-hours contracts. Mr Hellawell declined to answer saying the company was facing a legal action over the contracts and therefore could not speak about them, Louise Rouse, director of engagement at ShareAction, said the group has asked the company to commit to not using contracts that restrict employees from working elsewhere. Speaking after the meeting she said: “Clearly executive pay has been an issue with Sports Direct and we would ask a company that can afford to pay high executive salaries not to use zero hour contracts with ‘exclusivity clauses’. They are not in the in best interest of workers and are rarely in best interests of the companies that use them in the long term.”

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