proxy report 12/07/2018
Item 2: Approve the Remuneration Report
The structure is weighted more towards rewarding long-term performance. However, incentive pay, even without the recruitment award, was excessive and with the recruitment award it was grossly excessive. Furthermore, the recruitment award is not subject to performance conditions. Adjusted profit before tax determines 100% of the STI and 40% of the LTI, making incentive pay overly reliant on a single performance
metric.
Item 15: Re-appoint the auditors
The auditor's tenure exceeds our tenure limit of 10 years. PricewaterhouseCoopers LLP (PwC) have served as the Company
Burberry Group designs, makes, sources and sells luxury products under the Burberry brand. Co.'s products are for women, men and children and include apparel, accessories, and beauty. Co.'s products are sold globally through its directly operated store network and online at Burberry.com, as well as through franchisees and third-party retailers, both offline and online. In a few selected areas such as Eyewear and Beauty, Co. uses the product and distribution capability of licensing partners. Co. operates in three regions: Asia Pacific; Europe, Middle East, India and Africa; and Americas. As of Mar 31 2017, Co.'s store portfolio had 469 directly-operated stores and 48 franchise stores.
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