Tesco facing fat cat pay revolt at annual general meeting
The boss of Tesco is facing a possible shareholder revolt over his pay packet when investors gather for its annual general meeting on Tuesday.
Advisory firm PIRC is recommending that investors oppose the supermarket giant’s pay report.
The report includes the chance for boss Ken Murphy to make up to £12million this year after his bonus plan was tweaked.
Revolt on the cards? The boss of Tesco is facing a possible shareholder revolt over his pay packet
PIRC said the changes raise ‘material concerns’ about the executive pay being awarded to Tesco’s chief executive.
PIRC’s stance comes after The Mail on Sunday reported that rival Sainsbury’s was planning to lift the cap on how much its chief executive Simon Roberts can earn to £7.3million.
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