A third of Burberry's shareholders have failed to back the luxury brand's remuneration report in a protest over high pay. Investors representing just over 32% of voting shares rejected the report with more investors withholding their votes despite recent attempts to appease their anger by reducing overall pay deals. The rebellion was the biggest since 2014, when more than half of shareholders voted against director pay at the British fashion house. At Burberry's annual meeting in central London on Thursday morning, the chairman, John Peace, defended the pay packages for key executives including Christopher Bailey, who was joint chief creative director and chief executive until last week, and the new chief operating officer and finance officer, Julie Brown. Bailey's total remuneration last year rose from £1.9m to £3.5m. While he waived his entitlement to any annual bonus for the year, his total was boosted by a £1.4m payout from an award of shares from a 2014 plan.