Iain McDonald, maintaining his long-standing role as a non-executive director at digital retail group THG, faced opposition from nearly a quarter of shareholders during the annual general meeting. Despite stepping down from his position as head of the remuneration committee, THG has shown support for McDonald as part of its efforts to restore confidence within the company.
McDonald encountered shareholder resistance last year due to concerns about his independence after serving on the board for an extended period. However, THG defended its decision, emphasizing McDonald’s continued value as a member of the board and his contributions to financial expertise, remuneration knowledge, and investment insights.
While acknowledging disappointment over the vote outcome, THG emphasized its commitment to representing shareholders’ interests and upholding robust corporate governance standards. The company expressed openness to constructive dialogues with shareholders and related bodies.
THG also announced the appointment of Helen Jones as a new independent director on the same day as the vote, possibly as part of the company’s ongoing efforts to enhance its board composition and governance structure.
