At Kingfisher, the outgoing CEO’s bonus hasn’t gone well with shareholders

It’s been trying times at Kingfisher, in a year when its pre-tax profit dropped by 16% to £573m. And at the company’s latest AGM, Kingfisher investors are understood to have taken exception to outgoing-CEO Veronique Laury’s bonus payment of £522,000.  Laury held the top role at Kingfisher for five years and was paid £1.77m in total last year, up from £1.58m in the year prior.  With rumours of cultural differences, she is being replaced by Thierry Garnier in the autumn. Almost a quarter of shareholders voted against the bonus – with some opting not to vote at all – which comes

At Kingfisher’s side, they released a largely generoic statement, stating that “At Kingfisher we believe in proper alignment between pay and performance and our remuneration policy is designed to achieve this over the long term while incentivising the delivery of the ONE Kingfisher strategy.”