June 11, 2020 / 3:14 PM / a month ago

UK supermarket group Morrisons' pay policy opposed by 35% of AGM votes

LONDON, June 11 (Reuters) - Almost 35% of votes cast at Morrisons annual shareholders’ meeting on Thursday opposed the British supermarket group’s remuneration policy.

Ahead of the meeting investor advisory group ISS had recommended shareholders vote against the policy because the pension contribution rate of 24% for Chief Executive David Potts and Chief Operating Officer Trevor Strain was not aligned with the 5% received by most of the company’s workforce.

Morrisons said 34.8% of votes cast at the annual general meeting (AGM) were against the resolution to approve the pay policy, while 65.2% were in favour. (Reporting by James Davey; editing by Costas Pitas)

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