Shareholders on the hotel booking website Booking.com have rejected the company’s plans to pay senior executives significant bonuses, including a € 50 million payment to CEO Glenn Vogel.
According to Financieele Dagblad, this decision is not binding on the board, but it is a harsh condemnation.
So far this year, 11 companies listed on the S & P 500 have been in a similar situation, and in the Netherlands, shareholders of health technology company Philips have also rejected the bonus plan.
Amsterdam-based Booking.com shareholders voted with a two-thirds majority to avoid paying bonuses. The company didn’t provide any further details, but said it had “questions about the rationale.”
Last year, Booking.com repaid € 65 million received from the Dutch government to pay wages in the first three months of the coronavirus pandemic. It has received public and political protests against a € 28 million bonus package against three top executives.
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