Proxy advisor recommends vote against excessive executive pay

  • Shareholder revolt over Ocado CEO bonus
  • Proxy advisor recommends vote against bonus scheme
  • Institutional Shareholder Services (ISS) advises against new remuneration policy
  • Concerns over excessive executive pay
  • Ocado’s share price decline and lack of dividend contribute to high concern
  • Proposed bonus could be as much as £14.8m for CEO Tim Steiner

Ocado is facing a potential shareholder revolt over its CEO bonus, with a proxy advisor recommending investors vote against the retailer’s new bonus scheme. The Institutional Shareholder Services (ISS) has expressed concerns over the excessive sum of money executives could receive, stating that it is above market norms and not in line with UK market standards and investor expectations. The ISS has advised shareholders to vote against Ocado’s new remuneration policy and performance share plan at the upcoming AGM. The concerns are further exacerbated by the lack of dividend and decline in the company’s share price over the past few years. The proposed bonus for CEO Tim Steiner could be as much as £14.8m, which has raised significant objections from shareholders.

Factuality Level: 8
Factuality Justification: The article provides a detailed account of the shareholder revolt over Ocado’s executive pay, including the recommendations from Institutional Shareholder Services (ISS) and the reasons behind their concerns. The information is presented objectively without sensationalism or bias, and the article does not contain irrelevant details or digressions.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential shareholder revolt over executive pay at Ocado. It includes details about the recommendations from Institutional Shareholder Services (ISS) and the concerns raised regarding the new bonus scheme for CEO Tim Steiner. The article stays on topic and supports its claims with specific examples and data. However, it lacks a deeper analysis of the long-term implications of the shareholder revolt or the potential consequences for the company’s performance and reputation.
Financial Relevance: Yes
Financial Markets Impacted: Ocado
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to executive pay at Ocado, which is a financial topic. It discusses a potential shareholder revolt over the company’s new bonus scheme and the recommendation by proxy advisor ISS to vote against the remuneration policy. The article mentions concerns over the high amount of money executives could receive, which is not in line with market norms and investor expectations. However, there is no mention of an extreme event or its impact.

Reported publicly: www.retailsector.co.uk