Card Factory and Boohoo have been hit with a backlash from shareholders this week at its annual general meetings.
The greetings card retailer said it will engage with shareholders on their concerns after almost a quarter voted to oust its chair on Thursday (20 June).
Some 24.87% of votes were cast against re-electing Paul Moody, who joined Card Factory in July 2020 as executive chair.
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In a statement issued to the London Stock Exchange, the retailer said: “The board notes that, although it was approved, resolution three on the reappointment of Paul Moody (chairman) as a director, received less than 80% support and accordingly we will engage with shareholders to fully understand shareholder concerns, and provide an update on further consultations within six months of today’s AGM in accordance with the UK Corporate Governance Code.”
Meanwhile, some Boohoo shareholders raised concerns over the companies directors.
A total of 14.89% of the fashion retailer’s shareholders voted against its director’s remuneration report, and 16.14% voted against the re-election of non-executive Iain McDonald.
McDonald, who stepped down as a non-executive from THG in March, survived a shareholder revolt at the ecommerce giant last year when 23.73% of the shareholders voted against his re-election.
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