The sandwich-maker Greencore could face a shareholder rebellion on Thursday over plans to pay out hundreds of thousands of pounds in executive bonuses despite failing to refund any of the near-£30m it received in government Covid support during the pandemic.
Investors voting at Greencore’s annual general meeting may heed warnings from the shareholder adviser firms Glass Lewis and ISS, which have suggested they reject Greencore’s remuneration report. Both advisers have raised concerns over the “appropriateness” of Greencore’s bonus payments given its reliance on cash from the government furlough scheme, which subsidised staff salaries with state funds during the Covid outbreak.
