Burberry Boss Faces Investor Revolt

Rose Marie Bravo, Britain's highest paid female executive, is facing a showdown with investors in Burrbery over her GBP 12.4m termination contract.

Bravo has been informed that the National Association of Pension Funds (NAPF) is recommending to fund managers that they vote against the retailer at its annual meeting on July 15.

Bravo has nearly quadrupled shareholder value and turned a near basket case into a GBP 1b business, said one observer.

GUS, the retail group, is the majority shareholder in Burberry, so there is no chance of the vote being lots. But it is unusual for the NAPF to recommend a vote against a company, as was reported in the Sunday Times. And, there are concerns that, if the publicity surrounding the annual meeting gets too much, Bravo will consider quitting. Who would take the check, then?