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N Brown investors may oppose executive bonuses at Tuesday's AGM

By Prachi Singh

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Report

The fashion retailer N Brown may have to face opposition to executive bonuses at its AGM scheduled on Tuesday, reports The Times. It added that the influential shareholder adviser ISS has recommended to vote against the company’s remuneration policy, stating bonuses are not linked closely to N Brown’s trading performance.

N Brown led by Angela Spindler has been witnessing a downward trend in its share prices, which have declined more than a third since the beginning of the year.

In its recent trading update for the 13 weeks to June 2, 2018, the company had announced that focusing on becoming a global online retailer, it may consider closing its 20 stores ahead of lease expiry. Spindler had said in a statement: “As highlighted in our full year results, this was a challenging period for fashion retail. Given continued weak high street footfall, we have today commenced a consultation process with colleagues over the future of our small store estate.”

Picture:N Brown Group website

N Brown