Iain McDonald has stored his long-standing non-executive directorship at digital retail group THG regardless of his re-election being opposed by many shareholders at its annual common assembly.
Nearly 1 / 4 of shareholders had been in opposition to his re-election and though he stood down as head of its remuneration committee, THG has backed McDonald as its “seeks to enhance confidence” within the firm.
McDonald was the topic of an traders’ rise up final yr after shareholder advisory teams he could not be seen as really impartial given the size of time he’d spent on the board.
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However THG mentioned it had determined McDonald was nonetheless a “helpful member of the board” and will stay as a director.
It added: “Whereas the board was upset with the end result of this vote, it takes significantly its obligations to characterize the pursuits of shareholders and to uphold the best requirements of company governance and, as acknowledged on the time, is open to constructive dialogue with shareholders and shareholder our bodies.
“Iain is thought to be a helpful member of the board and, possessing in depth monetary and remuneration experience and funding acumen, brings a wealth of expertise to its total skill-sets and information base.”
The corporate additionally introduced the appointment of Helen Jones as a brand new impartial director on the day of the vote.
