33% of Shareholders Vote Against £25k Salary Hike for CEO Carl Cowling

  • WH Smith postpones CEO’s £25k pay rise due to shareholder opposition
  • 33% of shareholders voted against the move
  • Remuneration Committee agreed to reconsider salary increase in future
  • Sales performance better than anticipated, but total revenue still down 41% compared to 2019
  • Expected monthly cash burn for Jan-Mar 2021: £15m-£20m

WH Smith has postponed its planned £25,000 pay rise for CEO Carl Cowling after 33% of shareholders voted against the move. The company acknowledged that a significant minority did not support the Directors’ Remuneration Report. Despite better-than-expected sales performance, total revenue is still down 41% compared to 2019 levels. Monthly cash burn for January to March 2021 expected at £15m-£20m.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about WH Smith’s decision to postpone the CEO’s pay rise due to shareholder concerns and includes relevant details about the company’s sales performance during the pandemic.
Noise Level: 3
Noise Justification: The article provides relevant information about WH Smith’s decision to postpone its CEO’s pay rise due to shareholder concerns and includes details on the company’s sales performance during the pandemic. It also mentions the expected cash burn for the upcoming months. However, it could provide more analysis or context on the reasons behind the decision and the impact of the pandemic on the retail industry.
Financial Relevance: Yes
Financial Markets Impacted: WH Smith’s shareholders and CEO pay rise
Financial Rating Justification: The article discusses WH Smith’s decision to postpone its CEO’s pay rise due to shareholder opposition, which impacts the company’s financial arrangements and potentially affects its stock value.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk