Morrisons shareholders dismiss Covid efforts in massive pay rebellion at AGM

Morrisons faced a shareholder rebellion on directors' pay despite its Covid efforts

Morrisons investors have opposed the grocer’s pay report in large numbers at today’s AGM, prompting dismay at the grocer.

Of votes cast on Morrisons’ remuneration report, 70% were against while 30% were in favour. 

Opposition was stoked partly by the way chief executive David Potts’ pay package was arrived at, which did not take account of the impact of the pandemic on profits.

It was seen by Morrisons as a stinging outcome following a year in which the big-four food group fully played its part in feeding the nation as Covid took hold, launching initiatives such as a telephone delivery service for the elderly and a bulk delivery service for local councils, care homes and charities.

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