Tesco investors have been urged to vote against the grocer’s remuneration report by shareholder advisory group Pirc.

Pirc said the combined remuneration was “excessive” and advised Tesco shareholders to block it in their annual meeting on July 1.

The move comes less than a month after Tesco transformed its pay policy following an investor rebellion last year in which 47% of shareholders refused to support its remuneration report.

The grocer later replaced executive share options.

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