Sainsbury, 04 July 2019
Item 2: Advisory vote on the remuneration report The structure is unacceptable. Although pay weighted more towards rewarding long-term performance, the difference is very slight. Additionally, the maximum bonus exceeds guidelines, accelerated vesting in the event of a change of control is possible, and qualitative criteria for the STI exceed guidelines. There is insufficient disclosure of targets for the annual bonus. Accordingly, we recommend that shareholders oppose this resolution.
J Sainsbury is principally engaged in food, general merchandise and clothing retailing and financial services. Co. is organized into four operating segments: Retail (Food), which provides a range of food, including organic produce; Retail (General Merchandise and Clothing), which provides a range of products across home, clothing, technology and leisure; Financial Services (Sainsbury's Bank plc and Argos Financial Services entities), which provides products such as credit cards, insurance, travel money and personal loans; and Property Investment (The British Land Company PLC and Land Securities Group PLC joint ventures). At Mar 11 2017, Co. had 605 supermarkets and 806 convenience stores.
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