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

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

 
 

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