Fulham seafront investors serve up fat cat wages revolt: One in five oppose reappointment of Chairman David Page
Fulham Shore faced a barrage of criticism from shareholders at its annual general meeting yesterday.
The owner of Greek restaurant chains Franco Manca and Real suffered a bloody nose over chefs’ salaries and several other rebellions.
One in five shareholders opposed the reappointment of CEO David Page. And more than a fifth voted against re-electing co-founder and company secretary Nick Donaldson.
Pay dispute: Franco Manca owner Fulham Shore suffered a bloody nose over bosses’ salaries as nearly a fifth of shareholders voted against the pay report
Almost a fifth voted against the pay report, which saw Page take home £350,000 by March, more than double a year earlier.
Managing Director Nabil Mankarious was paid £385,000, also more than double last year.
Shore Capital consumer analyst Bradley Hughes said, “That’s a reasonable slap on the nose.”
Shareholder advisory firm ISS had recommended abstaining or voting against Page because corporate governance under him “deviates from best practice.”
ISS also stressed “concerns” about Donaldson, saying he may not be able to devote enough time to Fulham Shore as he is chairman of pizza chain DP Poland.
Fulham Shore said openings are moving forward and trading is “resilient”. Shares fell 0.4 per cent, or 0.05p, to 11.2p.
