Ocado Group PLC (0OC.SG)
- PA Media: Money
Ocado boss’s £15m bonus deal voted through despite opposition
At the firm’s annual general meeting, it said 19.43% of shareholder votes were made against the pay deal.
- The Telegraph
Ocado hit by backlash over founder’s £14.8m pay deal as fifth of investors revolt
The chairman of Ocado has insisted that plans to pay its founder Tim Steiner a bonus worth up to £14.8m are fair, despite a shareholder backlash against the proposals.
- Reuters
UPDATE 2-Ocado pay policy opposed by 19% of votes cast at annual meeting
Some 19% of votes cast at Ocado's annual shareholder meeting on Monday opposed the online grocer and technology group's proposed new pay policy that could see boss Tim Steiner pick up a bonus share award of up to 15 million pounds ($19 million). The FTSE 100 group, which sells its robotic technology to retailers around the world and also has an online supermarket joint venture with Marks & Spencer, put forward a new remuneration policy and performance share plan as its previous scheme comes to an end this year. According to a stock market filing from Ocado, 19.43% of votes cast at the meeting opposed the remuneration policy and 19.38% of votes cast opposed the group's 2024 performance share plan.
