Salvatore Ferragamo S.p.A. (0P52.IL)

Ferragamo CEO Gobbetti's pay backed by shareholders despite criticism

Salvatore Ferragamo shareholders gave the green light to its proposed remuneration policy, which gives the luxury goods group's CEO a bumper pay package, despite a recommendation from the world's top two proxy advisers to vote against it. Glass Lewis and Institutional Shareholder Services (ISS) suggested a vote against both the remuneration policy and part of the remuneration report. Ferragamo is led by Marco Gobbetti, the former head of British fashion group Burberry, who took over as CEO at the beginning of last year.