Board will have power to cut managers’ pay if group’s Agenda for Change not implemented in full
Boohoo has bowed to pressure from shareholders and linked a £150m bonus scheme for its top managers to improvements in conditions at the factories it uses.
The company said that the board would have the power to reduce the pay out to 15 key managers, including co-founders Carol Kane and Mahmud Kamani, if the group’s Agenda for Change programme was not implemented in full. The changes include establishing a whistleblowing system and responsible sourcing plan as well as publishing the names of all factories used by Boohoo worldwide.
Continue reading…
