Investors Criticize Ocado’s £100m Reward Scheme for CEO Tim Steiner

  • Ocado faces backlash over plans to reward boss Tim Steiner with up to £100m
  • Nearly 30% of Ocado investors voted against the award scheme in 2020
  • Criticism from shareholder Royal London and investor advisers Glass Lewis and Institutional Shareholder Services
  • Ocado wants to extend the scheme until 2027
  • Ocado’s share price dropped from £28 to £9.30 since pandemic heights

Ocado is facing criticism from investors and shareholders over a proposed pay plan that could reward its CEO, Tim Steiner, with up to £100 million amid the UK’s cost of living crisis. The value creation scheme has been met with opposition from Royal London Asset Management, Glass Lewis, Institutional Shareholder Services, and Legal & General Investment Management (LGIM). Ocado’s share price dropped from a pandemic high of £28 to £9.30.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Ocado’s plans for rewarding its CEO Tim Steiner, the criticism from shareholders, and the company’s performance. It also includes quotes from relevant sources to support the claims made.
Noise Level: 3
Noise Justification: The article provides relevant information about the controversy surrounding Ocado’s reward scheme for its CEO Tim Steiner and the criticism it has faced from shareholders and investors. However, it lacks in-depth analysis or exploration of the broader implications of such executive pay packages during a cost of living crisis.
Financial Relevance: Yes
Financial Markets Impacted: Ocado’s share price
Financial Rating Justification: The article discusses Ocado’s plans to reward its CEO with a significant bonus, which has faced criticism from shareholders and investors. This impacts the company’s reputation and potentially affects its stock price.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, and the situation described is related to a financial crisis involving Ocado’s shareholders and executive compensation.

Reported publicly: www.retailsector.co.uk