Tesco , Britain's largest retailer, on Friday became the latest big company to be hit by investor anger over executive pay after shareholders at ...
Tesco , Britain's largest retailer, on Friday became the latest big company to be hit by investor anger over executive pay after shareholders at its annual meeting voted down its remuneration report.
A shopping cart is pictured in a Tesco supermarket, amid the coronavirus disease outbreak in Petaling Jaya, Malaysia June 12, 2020. REUTERS/ Lim Huey TengLONDON: Tesco , Britain's largest retailer, on Friday became the latest big company to be hit by investor anger over executive pay after shareholders at its annual meeting voted down its remuneration report.
The supermarket group said 67.3per cent of votes cast at its annual general meeting were against the resolution to approve the pay report, while 32.7per cent were in favour.Ahead of the meeting several investor advisory groups had recommended shareholders vote against the report, highlighting that the exclusion of online grocer Ocado from the benchmarking had inflated one of outgoing Chief Executive Dave Lewis' bonuses by 1.6 million pounds to 2.4 million pounds.
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