After six years, the adventure of the general manager of the British group Tesco ends. However, everything indicates that saying goodbye to the owners will not be pleasant. It’s about money.
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At Friday’s general meeting of shareholders, 63 percent of them voted against a remuneration policy that would allow the director to pay £ 6.4m away, “Forbes reports. He points out that not only the £ 2.4m bonuses for last year, but the whole amount is controversial.
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It is worth noting that although the situation of Tesco, e.g. in Poland, is difficult (Netto takes over Tesco Polska), the financial results of the whole group are not bad. She managed to increase sales in recent months, despite the epidemic. They are also better than when Dave Lewis took over as CEO.
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Eight hours at work are obsolete. The presidential candidate is surprising
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It is also worth recalling that when Lewis came to Tesco, the company had to face the accounting scandal related to overstatement of the company’s profit.
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Although the shareholders’ vote is a clear vote of opposition, it is not binding. The subject of the outgoing director’s remuneration is therefore still open. The person himself has not yet declared how he will behave.
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Commenting on the confusion, some British media indicate that such great money in the age of coronavirus should not be paid to managers. The more that the methodology of calculating as much as 2.4 million pounds of bonus is highly controversial. It’s about manipulation of other, comparable companies to Tesco, on the basis of which calculations were to be made.
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5h ago
retroIf he has a contract structured in this way they can be surprised …………. he will go to court and win 2x that much.
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4 hours ago
Offer for non-policeA pest in a company like this doesn’t pay such money because it’s just a pest
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