Foxtons has come under fire for handing its boss a £1m bonus after tapping the government and investors for cash during the pandemic.
Nicholas Budden was handed a short-term bonus of £389,300 along with £569,000 in shares under a longer-term bonus scheme.
Asset managers and two of the world’s largest advisers to shareholders — Institutional Shareholder Services and Glass Lewis — have condemned the payment, which comes despite a sharp fall in its share price — from 94p before the pandemic to about 66p now — and after it benefited from almost £7m of government Covid support.
They have recommended that shareholders vote against the bonus at Foxtons’ annual meeting on 22 April.
