About 18 per cent shareholders have expressed dissatisfaction towards Tesco’s remuneration report, according to which the company has paid £4.13 mn to the new chief executive Dave Lewis for a period of six months at Tesco in 2014, reported The Guardian.
Lewis' predecessor Phil Clarke, who oversaw dipping sales and profits was paid £1.2 mn. Tesco is also under investigation for the accounting scandal by the Serious Fraud Office, the report said.
The vote against the remuneration report was around 11 per cent, and abstentions brought the protesting percentage to more than 18 per cent, according to Guardian.
An independent investor said during the shareholder meeting, “We do not pay the living wage but we do make our executives millionaires for failure.”
Despite the unrest, the supermarket giant's shares rose nearly 3.5 per cent, as it outperformed City expectations of predicted fall of 2.5 per cent. The sales for supermarket fell 1.3 per cent instead, The Guardian reported.
Read the whole report here .