PIRC, the Pensions & Investment Research Consultants, is telling clients to vote against the retailer’s remuneration report at the next AGM.
CEO Nick Wilkinson saw his pay this year quadruple to more than £4 million thanks to £3.4 million in bonuses.
PIRC says this pay is “considered excessive”.
“The change in the CEO total pay over the last five years are not considered in line with the Company’s financial performance over the same period. The ratio of the CEO’s pay compared to average employee pay is considered unacceptable, standing at 66:1.”
Finance director Laura Carr took home £2.5 million thanks to a £2 million bonus.
Dunelm, which sells home furnishings, said:
“Dunelm’s remuneration policy is centred around our long-term strategic goal of delivering value for our shareholders and other stakeholders through the profitable growth of a purpose-led, quality business. Management remuneration is performance-related.”