Shareholders complained about payouts amid missed bonus targets on sales, profits and IT aims
The online fashion specialist Boohoo has backtracked on a plan to pay three top executives £1m each in bonuses after reporting widening losses and falling into debt.
The move comes after shareholders complained that bonuses were going to be awarded to directors despite the chief executive, John Lyttle, and Boohoo’s co-founders, Mahmud Kamani and Carol Kane, missing bonus targets on sales, profits and cashflow as well as environmental and IT aims.
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