RE: Bad timing8 Feb 2024 11:29
The F U that kicked this into reserve!
Further, as announced on 21 June 2023, a significant number of votes were cast against the resolution which was put to the 2023 annual general meeting (the "AGM") relating to the re-election of Iain McDonald as a director of the Company. Whilst the Board was disappointed with the outcome of this vote, it takes seriously its responsibilities to represent the interests of shareholders and to uphold the highest standards of corporate governance and, as stated at the time, is open to constructive dialogue with shareholders and shareholder bodies.
Such dialogue took place in the period leading up to the AGM and the Company announced on the morning of the AGM that, in addition to the appointment of Helen Jones as a new independent Non-Executive Director, Iain McDonald would step down from membership of the Remuneration Committee (of which he was a non-independent member) to focus on his other THG commitments. Iain is regarded as a valuable member of the Board and, possessing extensive financial and remuneration expertise and investment acumen, brings a wealth of experience to its overall skill sets and knowledge base.
The Board will continue to engage with shareholders on this matter as considered appropriate and will provide a further update in the Company's Annual Report and Accounts for the financial year ending 31 December 2023.