Photo: DutchNews.nl
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.
Thank you for donating to DutchNews.nl
The DutchNews.nl team would like to thank all the generous readers for their donations over the last few weeks. Your financial support has helped extend the scope of the coronavirus crisis in the evenings and weekends to ensure you are on the lookout for the latest developments.
DutchNews.nl Is free for 14 years, but without the financial support of our readers, we cannot provide fair and accurate news and features about everything in the Netherlands. Your contribution makes this possible.
If you haven’t donated yet but want to donate,
You can do so through Ideal, Credit Card or Paypal.
