The Reading / Listening - Level 5

Burberry shareholders are very angry about a planned pay package for its newly-appointed CEO. They rejected a proposal at the company's annual general meeting to provide Christopher Bailey with a multi-million-dollar pay deal. The vote was 52.7 per cent against the proposal. Executives wanted 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 shares have been called "golden handcuffs" to stop him from joining a rival company. He will also receive add-ons for pensions and performance bonuses.



Burberry chairman Sir John Peace defended the package and was "disappointed" with shareholders. He said: "I want to understand why they felt so strongly." He said the packages for Bailey and his predecessor were to keep "world-class executives" at the company. Under the former CEO's guidance, the company's sales increased to over $3.4 billion, and shares increased threefold to $12 billion. Peace said many companies would pay Mr Bailey a lot more. He added that Bailey was "worth every penny". Bailey joined Burberry in 2001 as Design Director and became Creative Director in 2004.

Try the same news story at these levels:

    Level 4 or  Level 6

Sources
  • http://www.scotsman.com/business/retail/burberry-investors-express-anger-at-pay-deal-1-3474357
  • http://online.wsj.com/articles/burberry-investors-rebel-over-ceos-pay-1405091150
  • http://www.dailymail.co.uk/news/article-2689242/Boss-major-fashion-brand-growing-pressure-shareholder-rebellion-20million-pay-deal.html#ixzz37DHne5TJ


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



The Activities

MATCHING

PARAGRAPH ONE:

1.

angry about a planned

a.

ons for pensions

2.

its newly-

b.

up to $17 million

3.

the company's annual

c.

appointed CEO

4.

a multi-million-

d.

bonuses

5.

an annual salary of

e.

a rival company

6.

stop him from joining

f.

pay package

7.

He will also receive add-

g.

dollar pay deal

8.

performance

h.

general meeting



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ESL resource book with copiable worksheets and handouts - 1,000 Ideas and Activities for Language Teachers / English teachers
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PARAGRAPH TWO:

1.

Burberry chairman Sir John Peace

a.

threefold

2.

I want to understand why

b.

class executives

3.

keep world-

c.

worth every penny

4.

Under the former

d.

defended the package

5.

shares increased

e.

pay Mr Bailey a lot more

6.

many companies would

f.

they felt so strongly

7.

He added that Bailey was

g.

as Design Director

8.

Bailey joined Burberry in 2001

h.

CEO's guidance





LISTEN AND FILL IN THE GAPS

Burberry shareholders (1) ___________________ a planned pay package for its newly-appointed CEO. They rejected a proposal at the company's annual (2) ___________________ Christopher Bailey with a multi-million-dollar pay deal. The vote was 52.7 per cent (3) ___________________. Executives wanted to hand Mr Bailey a $12.3 million "golden hello", an annual salary of up to $17 million (4) ___________________ $33 million by 2018. The shares have been called "golden handcuffs" to (5) ___________________ a rival company. He will also receive (6) ___________________ and performance bonuses.

Burberry chairman Sir John Peace (7) ___________________ and was "disappointed" with shareholders. He said: "I want to understand why they felt so strongly." (8) ___________________ for Bailey and his predecessor were to keep "(9) ___________________" at the company. Under the former CEO's guidance, the company's sales (10) ___________________ $3.4 billion, and shares (11) ___________________ $12 billion. Peace said many companies would pay Mr Bailey a lot more. He added that Bailey was "worth every penny". Bailey joined Burberry in 2001 (12) ___________________ became Creative Director in 2004.

CEO PAY SURVEY

Write five GOOD questions about CEO pay in the table. Do this in pairs. Each student must write the questions on his / her own paper.

When you have finished, interview other students. Write down their answers.

 

STUDENT 1

_____________

STUDENT 2

_____________

STUDENT 3

_____________

Q.1.

 

 

 

 

Q.2.

 

 

 

 

Q.3.

 

 

 

 

Q.4.

 

 

 

 

Q.5.

 

 

 

 

WRITE QUESTIONS & ASK YOUR PARTNER(S)

Student A: Do not show these to your speaking partner(s).

a)

________________________________________________________

b)

________________________________________________________

c)

________________________________________________________

d)

________________________________________________________

e)

________________________________________________________

f)

________________________________________________________

g)

________________________________________________________

h)

________________________________________________________

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Student B: Do not show these to your speaking partner(s).

a)

________________________________________________________

b)

________________________________________________________

c)

________________________________________________________

d)

________________________________________________________

e)

________________________________________________________

f)

________________________________________________________

g)

________________________________________________________

h)

________________________________________________________





FREE WRITING

Write about CEO pay for 10 minutes. Comment on your partner's paper.

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Answers

(Please check your answers against the article above.

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