Tesco AGM: pay policy rejected by more than a third of shareholders.

(From Guardian Unlimited)

Tesco shareholders gave the company a bloody nose at its annual general meeting today when over a third of votes were cast against its boardroom pay policy.

Britain's biggest supermarket chain suffered the largest shareholder rebellion this year, and the sixth biggest in the last decade, as investors expressed their concern over its remuneration report. More than 37% of votes were cast against Tesco's remuneration report, with 62.3% in favour - according to provisional voting data that did not show how many shareholders had abstained.

There was also a smaller revolt over the pay packages being given to Tesco's top executives, …