{"id":165116,"date":"2021-06-14T13:54:33","date_gmt":"2021-06-14T13:54:33","guid":{"rendered":"https:\/\/www.theindustry.fashion\/shareholders-may-well-vote-against-my-bonus-says-jd-sports-chairman\/"},"modified":"2021-08-12T11:42:26","modified_gmt":"2021-08-12T11:42:26","slug":"shareholders-may-well-vote-against-my-bonus-says-jd-sports-chairman","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/shareholders-may-well-vote-against-my-bonus-says-jd-sports-chairman\/","title":{"rendered":"Shareholders \"may well\" vote against my bonus, says JD Sports chairman"},"content":{"rendered":"<p>The chairman of JD Sports has said that shareholders<strong> \u201cmay well\u201d vote against the \u00a34.3 million bonus<\/strong> that the company is set to award him despite taking Government support to furlough its staff.<\/p>\n<p><!--more--><\/p>\n<p>Peter Cowgill defended the payout, saying he <strong>had only received one long-term incentive payout in eight years.<\/strong><\/p>\n<p>Speaking to BBC Radio 4\u2019s the World at One he said that shareholders could decide to vote against the bonus, something that advisory group Glass Lewis recommended in a recent report.<\/p>\n<p>\u201cThey may well do that, but I\u2019m just saying <strong>why would you when the company has progressed?<\/strong>\u201d Cowgill said.<\/p>\n<p>He shot back at comparisons to non-essential retailers such as Primark, who have paid back the money they claimed to keep staff on furlough.<\/p>\n<p>\u201cAs we speak today we\u2019re under pressure on the online.\u00a0The <strong>online is a very small proportion of our income, the online in Asos is 100% of their income,<\/strong> so to compare them is absolutely ridiculous,\u201d he said.<\/p>\n<p>He said that <strong>Primark, which is owned by AB Foods, gets a lot of its money from selling essential goods.<\/strong><\/p>\n<p>The <strong>furlough scheme was designed to ensure that companies did not lay off workers<\/strong> during the pandemic while their businesses were forced to close.<\/p>\n<p>The Government has paid out more than \u00a365 billion to support the scheme, which covered up to 80% of the salaries of furloughed workers.\u00a0Around <strong>\u00a386m of this went to JD Sports employees.<\/strong><\/p>\n<p>Cowgill said: \u201cThe furlough payments, the <strong>furlough receipts were used for exactly what they were prescribed for.<\/strong><\/p>\n<p>\u201cIn other words <strong>we were a company that was non-essential, that was closed, we didn\u2019t take any income,<\/strong> so you can glean from that the leaning from the overseas income.<\/p>\n<p>\u201cSo we didn\u2019t take that, we paid that out, we actually were very relaxed in terms of in the subsequent lockdowns in terms of <strong>very light on furlough.<\/strong><\/p>\n<p><strong>\u201cWe used it to retain employment, we didn\u2019t make redundancies.\u201d<\/strong><\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-144088 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Daily-Newsletter-Banner.png\" alt=\"Newsletter banner\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chairman of JD Sports has said that shareholders \u201cmay well\u201d vote against the \u00a34.3 million bonus that the company is set to award him despite taking Government support to furlough its staff.<\/p>\n","protected":false},"author":68,"featured_media":143985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[5626,11951,9952],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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