Ocado boss Tim Steiner faces a shareholder revolt over his pay today.
Advisory groups Glass Lewis and Institutional Shareholder Services (ISS) have urged investors to vote against the £15m pay policy. They say a new plan may cause “overpayments.”
ISS said its concerns were “exacerbated by… a lack of dividends and a general decline in the share price.”
Under the proposals, Steiner, 54 (pictured with partner Patrycja Pyka) could receive a stock reward worth £14.8m from 2027 if he improves his stock market performance and increases the cash flow.
It would have to raise the share price to £29.69, an increase of £750 per cent on Friday’s closing price of £3.50.
Ocado has lost almost 90 percent of its value since the Covid peak in 2020.
