British fashion retailer Boohoo has cancelled plans to award its top executives with a £1m bonus, following pushback from several shareholders.
Despite the company accumulating nearly £160m in losses, its remuneration committee intended to award co-founders Mahmud Kamani and Carol Kane, and CEO John Lyttle, bonuses totalling £1m. However, Boohoo declared it would not implement this incentive plan “at this time”.
He said: “It’s tough work but someone has to do it.”
