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
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.
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