Asos shareholders approve new pay plan for execs
According to Asos, no other changes to the 2023 remuneration policy are proposed other than โminor updates to the malus and clawback provisionsโ
Asos shareholders have approved a new pay plan for executives with the groupโs new Value Creation Plan (VCP).
According to the company, the scheme aims to further align executive directors and the senior leadership team with its โambitious growth plansโ.
Around 91.82% of shareholders voted in favour to amend the long-term incentive section of the directors’ remuneration policy with the new VCP.
Asos stated that the VCP is โto incentivise its senior leaders to deliver exceptional value for shareholders through substantial growth in the companyโs share priceโ.
However, the group added that the VCP will only deliver value to recipients to the extent the share price exceeds ยฃ6.70.
Additionally, almost 92% of the shareholders also approved the revised director’s remuneration policy.
According to Asos, no other changes to the 2023 Remuneration Policy are proposed other than โminor updates to the malus and clawback provisionsโ.
Jรธrgen Lindemann, Asos chair, said: โThe board of directors of the company believe that all the proposed resolutions set out in this notice are in the best interests of the company and its shareholders as a whole.โ