The activist investor seeking an overhaul at The Restaurant Group has won the backing of an influential shareholder advisory group in protesting at chief executive Andy Hornby’s pay package, The Times reports
Oasis Management Company, the Hong Kong-based hedge fund that owns more than 12 per cent of the Wagamama owner’s shares, claims Hornby’s pay package is “disproportionate” and “unpalatable” in light of the company’s poor performance.
Glass Lewis, the proxy advisory firm, has now declared it has “serious reservations” about TRG’s remuneration report and policy, and recommended that shareholders vote against both at its annual meeting on May 23.
- The Times. To read the full story click here
