Frasers Group, led by founder Mike Ashley, is facing opposition from investors over a £100,000 bonus awarded to its chief financial officer, Chris Wootton, amid concerns it was granted for performing routine duties. Ahead of the company’s annual general meeting, influential proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) have recommended shareholders vote against the remuneration report.

Wootton, who has served as CFO since 2017, received the discretionary bonus following his role in securing a £3 billion new term loan and revolving credit facility. While the company described the deal as a “significant objective” in its strategy to reposition itself as a more upmarket retailer, ISS contended that the achievement appeared to be part of Wootton’s expected responsibilities.

Glass Lewis further criticized the lack of detailed disclosure explaining the bonus’s rationale and how the amount was determined. The advisory firm noted that some shareholders might view the bonus as an attempt to supplement executive pay, particularly since other performance-linked incentives were missed by some company leaders during the year.

The annual meeting comes after a busy period for Frasers, which has been active in making acquisitions and responding to takeover interest. Among recent moves, the group acquired the department store chain Harvey Nichols for more than £40 million via a pre-pack administration process.

In addition to concerns over Wootton’s bonus, Glass Lewis described a separate share incentive plan potentially awarding up to £100 million to Michael Murray, Frasers’ chief executive and Mike Ashley’s son-in-law, as “excessive” when compared to market standards. The group’s shares closed down nearly 2 percent ahead of the meeting.

Financial results for the year ending April 26 showed that Frasers’ debt had risen to £1.2 billion, up from £847.5 million in the previous period, reflecting the company’s recent borrowing to support its expansion and refinancing efforts.

Frasers Group did not provide comment at the time of reporting.