The publisher behind Horse & Hound and Country Life magazines has been rocked by a backlash over an ‘excessive’ bonus scheme that could hand its chief executive up to £41million.

Future faces a revolt over the pay plans at its annual general meeting next week, after influential advisory services ISS and Glass Lewis urged shareholders to vote against them.

Ahead of the poll, investors have also voiced their concerns about the ‘controversial’ proposals.

Bonus row: Future, led by Zillah Byng-Thorne, faces a revolt over the pay plans at its annual general meeting next week

Bonus row: Future, led by Zillah Byng-Thorne, faces a revolt over the pay plans at its annual general meeting next week

Bonus row: Future, led by Zillah Byng-Thorne, faces a revolt over the pay plans at its annual general meeting next week

Future boss Zillah Byng-Thorne is already one of the country’s best-paid executives after she scooped an £18million bonus in 2019. 

But she could be entitled to 14.3 per cent of a £285million pot of shares allocated to staff under the bonus scheme – amounting to a maximum possible payout of about £40.8million.

The scheme’s awards will be dished out in three tranches of up to £95million each, based on whether the company’s share price goes up 10 per cent a year.

A Future spokesman said that for the bonus scheme to pay out in full, the firm must create £4billion of ‘additional shareholder value’ over five years.

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .footerText a:hover{text-decoration: underline;} #fiveDealsWidget .footerSmall{font-size:10px; padding-top:10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on Dailymail.co.uk

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

I won a stunning £3.5million mansion with its own gym, tennis court, pool and CINEMA as well as £50k for just £10 ticket

A GRANNY has scored a stunning £3.5million Cotswolds mansion for just a…

Households to pay £90 EACH to deal with fallout from failed energy suppliers

Energy bills are likely to rise by nearly £600 to £1,865 next…

Major supermarket slashes price of baby formula to help parents save cash in cost of living crisis

A MAJOR supermarket has slashed the price of its baby formula to…

What are Exchange Traded Funds? Investing Explained

In this series, we bust the jargon and explain a popular investing…