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Mar122021 by adminNo Comments

All Bar One owner M&B faces investor pay backlash

Business

The owner of All Bar One is facing a shareholder revolt over plans to bolster the guaranteed pay awards of its top executives amid a broader firestorm over corporate governance at the company.Sky News understands that several major institutional investors are planning to oppose Mitchells & Butlers' (M&B) remuneration policy because it plans to replace a performance-based share scheme with more certain annual awards. Institutional Shareholder Services (ISS), an influential voting advisory firm, said in a report to clients that M&B's explanation of the shift in policy "mainly discusses retention and a goal to maximise long-term shareholder value, but it does not explain how it will achieve the latter".The recommendation paves the way for a clash at the pub operator's annual meeti...

Feb162021 by adminNo Comments

Black McDonald’s owner sues for racial discrimination

Business

HandoutA former professional baseball player who was once the largest black McDonald's operator in the US has sued the company for racial discrimination.Herb Washington said the firm had denied black owners the opportunities it gave to whites, including by steering them to stores to "distressed, predominantly black" areas.He accused the company of retaliating against him after he raised concerns. McDonald's blamed his troubles on "mismanagement".In a statement, the firm said it was reviewing the complaint, adding that Mr Washington was facing "business challenges that we don't want for anyone in our system." "This situation is the result of years of mismanagement by Mr Washington, whose organisation has failed to meet many of our standards on people, operations, guest satisfaction and rein...

Jan212021 by adminNo Comments

Ladbrokes owner Entain appoints first female chief executive

Business

Ladbrokes owner Entain has appointed Jette Nygaard-Andersen as the first female chief executive of a major listed British gambling group.The announcement, confirming a move first reported by Sky News, adds to the small number of women who are FTSE 100 bosses. They also include Severn Trent's Liv Garfield, Whitbread's Alison Brittain and NatWest chief executive Alison Rose, plus GSK boss Emma Walmsley and Carolyn McCall of ITV. Image: Betting shops have been hit by closures due to COVID-19 restrictions Outside the FTSE but in the gambling sector, privately-owned bookmaker Bet365 is run by Denise Coates, one of the best-paid bosses in Britain.The appointment of Ms Nygaard-Andersen, a Dane, comes days after US casino operator MGM Resorts...

Jan42021 by adminNo Comments

Ladbrokes owner Entain receives offer from MGM Resorts

Business

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Dec232020 by adminNo Comments

Whitbread: Premier Inn owner asks landlords for rent cut

Business

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