Ladbrokes ShareHolders In Protest

Written On  5/13/11 By staff writer Frank Polliern :

Another British bookmaker feels the heat
Following a 38 percent William Hill investor rebellion this week, with shareholders disgruntled about CEO Ralph Topping’s remuneration package, Ladbrokes investors appear to have followed suit.
British media are reporting that 40 percent of Ladbrokes investors opposed the company’s  remuneration report or abstained from the vote.
Shareholders are reportedly protesting a retention bonus paid to Brian Wallace, the outgoing Finance Director, who was paid GBP 1.58 milllion in 2010.  Wallace left the company after receiving the bonus.
Ladbrokes claims “the bonus was awarded at a time when it had just lost its chief executive Chris Bell and didn’t want to lose a finance director as well, reports The Guardian.
Ladbrokes said: "We have noted the disquiet expressed by some of our shareholders and have recorded it for future reference."