Burberry boss's pay blasted in trench coat warfare

Burberry today moved to stem anger over boardroom pay by trying to prove with a 24% jump in sales that chief executive Angela Ahrendts was worth the £6 million she pocketed last year.

The luxury label is expected to face the wrath of a group of shareholders at its annual meeting on Thursday, after governance advisory group Pirc advised members to vote against its executive remuneration packages.

But chief financial officer Stacey Cartwright said: "This is pay for performance: our share price was up 130%, well ahead of the luxury goods sector.

She added that the two other shareholder groups — the ABI and RiskMetrics — have approved the rewards, which include a clothing allowance for Ahrendts.

Like-for-like sales rose 10% in the three months to the end of June, with best-sellers including handbags and its traditional trenchcoats. The 154-year-old label said its London stores were among the star performers.