Country Life publisher reeling after shareholder revolt over executive pay

Future’s chief executive, Zillah Byng-Thorne, was paid £8.8m last year and made almost £34m over the last five years. Photograph: James Drew Turner/The Guardian

Future, the UK’s biggest magazine publisher that is home to titles from Country Life to Metal Hammer, has been forced into an embarrassing sit-down with investors after a bruising shareholder revolt in which 60% failed to support its annual pay report – including a controversial bonus scheme in which its chief executive could be awarded £40m.

The board of London-listed Future has been forced to initiate a new consultation process with shareholders after failing to gain the 50% support required to pass its report on remuneration at the company’s annual general meeting on Thursday.