Friday, 29 June 2007

Big votes against Tesco on pay and labour standards

Lots of fund mand games at Tescos AGM today. According to The Times and The Telegraph the company suffered a serious rebellion over exec pay arrangements, with about 1 in 6 investors failing to back a controversial incentive scheme. Truste me, in Uk corporate governance that is quite a big upset.

Even more notable though is that a shareholder resolution requisitioned by someone from War on Want achieved almost 10% votes in favour and even more abstentions. Here are the company's stats. I'll try and have a proper look over weekend.

No comments: