Glass Lewis ESG Controversy Alert: PAL Group Holdings

MT Newswires Live

05-08

Glass Lewis issued a controversy alert on Thursday for PAL Group Holdings (TYO:2726) shareholders ahead of the company's annual general meeting on May 28.

The alert relates to a proposal for the retirement allowances and special merit award for Hidetaka Inoue, who the clothing company employed for 50 years and will last serve as a consulting director.

Concerns abound regarding the allowances' proposed size, which is at about 3.16 billion yen, according to Glass Lewis.

The alert's rationale relates to egregious governance practices and falls under executive pay.

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