By
Reuters
Published
July 15, 2026
A majority of Burberry investors on Wednesday supported an executive pay overhaul allowing CEO Joshua Schulman to get much bigger share awards, significantly increasing his compensation if performance and share price targets are met.
Many shareholders revolted against the change, however, with 37% of votes at the company’s annual general meeting against while 63% backed it. Under the new policy, Schulman would get performance share awards worth up to 300% of his salary, with his total potential package reaching £12.24 million ($16.41 million) if the brand achieves maximum performance targets and its share price rises by 50%.
Influential proxy advisers Institutional Shareholder Services and Glass Lewis had both recommended investors vote against the change. Schulman is leading a turnaround at Burberry, and has slashed jobs and returned the company to profit.
In a struggling global luxury sector, Burberry has rewarded shareholders better, in terms of total returns over the two years since he joined, than bigger rivals like LVMH, Hermes, Kering, and even Richemont. Investors also confirmed William Jackson as Burberry’s new chair, taking over from Gerry Murphy, who has held the role since 2018.
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