Complete the missing words.

Shareholders from the British fashion house Burberry are up in arms about a proposed pay package
…………. its CEO. They rejected a resolution at the company's annual general meeting to provide
newly-appointed CEO Christopher Bailey ……….. a multi-million-dollar remuneration deal. The vote was
52.7 per cent against the resolution. Executives proposed to hand Mr Bailey a $12.3 million "golden
hello", an annual salary of up to $17 million and shares worth up to $33 million by 2018. The share
package has been called a "golden handcuffs" arrangement ………….. stop him from joining a rival
company in the next ………….. years. He will also ………………  add-ons for pensions and performance
bonuses.

Burberry chairman Sir John Peace defended the package. He said he was "disappointed" and …………… talk
to shareholders. He said: "I want to understand why they felt ………… strongly to vote against." He
said the packages for Bailey and his predecessor Angela Ahrendts were to keep "world-class
executives" at the company. Under Ms Ahrendts' guidance between 2006 and 2014, the company's sales
…………….. to over $3.4 billion, and shares gained more ………. threefold to $12 billion. Peace pointed
out that many companies around the world would be willing to pay Mr Bailey a lot more. He added
that Bailey was "worth …………….. penny". Bailey joined Burberry in 2001 as Design Director and became
Creative Director in 2004.


Answer the questions below.


How do shareholders from Burberry feel about Bailey's renumeration package?



At what kind of meeting did shareholders reject a resolution?



What does the chairman want to understand more?



What arguments in favour of the proposed pay package did Sir John Peace use?