Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsBonusesExecutive payPay & benefits

Shareholders urged to reject JD Sports bonus

by Adam McCulloch 14 Jun 2021
by Adam McCulloch 14 Jun 2021 Photo: Shutterstock
Photo: Shutterstock

JD Sports could be subject to an investor backlash after awarding its boss a £4.3m bonus despite receiving millions of pounds in Covid support.

Shareholder advisory group Glass Lewis has urged investors to vote against the “inappropriate” pay policy after executive chairman Peter Cowgill’s total pay reached nearly £5m despite a short-term salary reduction.

JD Sports said its pay policy reflected the group’s “sustained outstanding performance”.

A spokesperson for the sportswear firm said: “The posting of exceptional results during such a challenging climate demonstrates that the remuneration approach and steps taken throughout the pandemic continue to support and drive this performance.”

Executive pay

Large firms face increasing pressure to tackle executive pay and diversity

Logistics giant criticised for furlough use while paying CEO bonus

Boohoo may link bosses’ bonuses to ESG improvements

Foxtons investors rally against chief executive bonus

The company will hold its annual general meeting on 1 July when shareholders will vote on the company’s remuneration report.

Glass Lewis is also recommending that shareholders vote against the re-election of Cowgill because of what it claims is inadequate succession planning.

Cowgill was given a special award of £6m for his performance in 2019, which was to be paid in instalments. It was included in his bonus figure for last year.

Before the pandemic JD Sports had already paid out £3m; then delayed a £1.5m payment that was due in October 2020. This has now been paid to him.

The company said in its annual report: “In the light of developments caused by the Covid-19 pandemic, it was agreed that the remaining payments would be deferred and paid when the board and committee were satisfied it is appropriate to do so.”

Cowgill reduced his basic salary by 75% between April and August 2020, after which it returned to normal levels.

The chain has received £61m through the UK furlough scheme and an estimated £38m in business rates relief during the pandemic so far and an additional £25m in wage support from other countries where it operates, including the US.

The Bank of England’s Covid Corporate Financing Facility Scheme, which was set up to help larger firms through the pandemic, also granted JD Sports a £300m loan. This had not been used by the time the scheme closed in March.

Online sales growth during lockdowns has seen revenue grow by 0.9% to £6.1bn across the firm, which also has outlets in Europe, the US and Asia Pacific. However, pre-tax profit fell by 7% to £324m.

Latest HR job opportunities on Personnel Today

Browse more human resources jobs

Adam McCulloch
Adam McCulloch

Adam McCulloch is a freelance writer and production editor who has worked in sectors including travel (The Guardian), aviation (Flight International), agriculture (Farmers' Weekly), music (Jazzwise), theatre (The Stage) and social work (Community Care). He also works for a national newspaper and is the author of KentWalksNearLondon

previous post
‘Deskless’ workers feel unable to take time off when sick
next post
Two in five recruiters not recording diversity of own firms

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

You may also like

Pay deals highest in 30 years, but outstripped...

21 Jun 2022

Pay gap between CEOs and employees set to...

23 May 2022

EasyJet joins battle for cabin crew with £1,000...

16 May 2022

Firms with female directors most likely to cut...

19 Apr 2022

British Airways offers new cabin crew £1,000 bonus

14 Apr 2022

Cost of living continues to outpace wage growth

15 Mar 2022

John Lewis Partnership restores staff bonus

10 Mar 2022

FCA’s new pay offer a ‘grave error’, claims...

2 Mar 2022

Senior executives: towards a new world of work?

15 Feb 2022

Financial Conduct Authority faces strike threat over pay...

25 Jan 2022
  • The ultimate guide to payroll for small businesses PROMOTED | You’ve started a business that has expanded to the point of requiring more staff to meet demand. Congratulations!...Read more
  • NSPCC revamps its learning strategy with child wellbeing at its heart PROMOTED | The NSPCC’s mission is to prevent abuse and neglect...Read more
  • Diversity versus inclusion: Why the difference matters PROMOTED | It’s possible for an environment to be diverse, but not inclusive...Read more
  • Five steps for organisations across the globe to become more skills-driven PROMOTED | The shift in the world of work has been felt across the globe...Read more
  • The future of workforce development PROMOTED | Northumbria University and partners share insight...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+