Ocado shareholders have rebelled against high pay for directors at the online grocery specialist, with almost 30% voting against a plan to pay the chief executive, Tim Steiner, up to £100m over the next five years.
Just over 29% of voting shareholders rejected the company’s overall remuneration policy and almost a similar proportion voted against a three-year extension of Ocado’s “value creation plan”, under which Steiner can earn up to £20m a year and other executives up to £5m each.
