Morrisons hit by investor revolt over exec pension payments
Morrisons has been rocked by a shareholder revolt over the pay packages of its executive team.
More than a third of investors opposed the grocer’s remuneration policy at its AGM yesterday amid anger over the pension payments given to boss David Potts and chief operating officer Trevor Strain.
The duo receives pension payments worth 24% of their basic salaries, but the majority of shopfloor staff receive 5%.
According to the UK Corporate Governance Code, executive pension contributions should be in line with those offered to the rest of the workforce.
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