Wagamama owner set to close restaurants amid the cost of living

Shareholders slam Wagamama bosses over their pay packages despite more than £86 million in losses

Shareholders gain blasted Wagamama bosses as the firms chief executive, Andy Hornsby received a pay package worth £792,000 with an annual bonus of £125,000 despite posting £86.8 million in losses for the year.

A number of investors, led by activist fund manager Oasis administration gain hit out over the “unpalatable” pay package and 45.5% of the Restaurant Group shareholders voted against the pay report in 2022.

In a statement, the company said, “It is noted that a significant minority did not support certain of the substantive remuneration resolutions.

“The remuneration committee intends to support the remuneration policy under active review to ensure it remains appropriate to the group’s evolution and aligned to stakeholder interests and will provide an update on that review within the statutory six-month timescale.”