Finance
Debenhams' new pay plan without vote 'disgraceful', says top investor Frasers
Published by Global Banking and Finance Review
Posted on December 4, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 4, 2025
2 min readLast updated: January 20, 2026
Debenhams' new executive pay scheme, criticized by major investor Frasers, raises corporate governance issues.
LONDON, Dec 4 (Reuters) - A move by struggling British online fashion retailer Debenhams to push ahead with a new executive pay scheme without seeking approval from investors was "utterly disgraceful", the finance chief of rival Frasers said on Thursday.
Frasers is Debenhams' biggest investor with a 29.7% stake.
Last week, Debenhams said that one of the reasons it was not asking for a shareholder vote on the new pay scheme worth up to 222 million pounds ($296 million) was because a "major competitor" investor, which it did not name, had tried to block previous resolutions.
Debenhams has been locked in a long-running tussle with Frasers, majority-owned by British retail tycoon Mike Ashley, which unsuccessfully attempted to block its rebrand and oust its co-founder.
Frasers' chief financial officer Chris Wootton said Debenhams' latest move, which could see CEO Dan Finley earn up to 148 million pounds if Debenhams' share price hits 3 pounds over the next five years, was "typical corporate governance from them, utterly disgraceful".
However, he told Reuters that if Debenhams achieved a share price of 3 pounds "shareholders will be happy."
Debenhams shares were trading at 22.25 pence on Thursday, down 3.3%.
($1 = 0.7498 pounds)
(Reporting by James Davey; Editing by Catarina Demony)
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled, focusing on the relationships among stakeholders and the goals for which the corporation is governed.
Compensation is the total monetary and non-monetary rewards given to employees in exchange for their work, which can include salary, bonuses, benefits, and other incentives.
Retail trade involves the sale of goods and services directly to consumers, typically in small quantities, through various channels such as stores, online platforms, and markets.
An investment is an asset or item acquired with the goal of generating income or appreciation, often involving the purchase of stocks, bonds, real estate, or other financial instruments.
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