May 6, 2020 / 5:03 PM / 20 days ago

Ocado pay report opposed by 30% of shares voted at annual meeting

LONDON, May 6 (Reuters) - Some 30% of Ocado shares voted at its annual investor meeting on Wednesday opposed the online supermarket and technology group’s pay report, it said on Wednesday.

Ahead of the meeting some shareholders and investor advisory groups had highlighted what they regarded as excessive awards for Ocado’s executives in 2019, including total remuneration of 58.7 million pounds ($72.6 million) for co-founder and CEO Tim Steiner.

Ocado said 29.76% of votes cast at the AGM were against the resolution to approve the directors’ remuneration report, while 70.24% were in favour. (Reporting by James Davey, Edited by Paul Sandle)

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