Ocado pay backlash looms as firm moves to offer boss £14.8m package

Investors urged to vote against online grocer’s remuneration for CEO Tim Steiner at upcoming AGM

Ocado is facing criticism as it seeks shareholder approval on Monday for a potential bonus worth up to £14.8m for its chief executive, Tim Steiner.

Glass Lewis, an influential shareholder advisory group, has urged investors to vote against the online grocery group’s remuneration policy and performance share plan at its annual shareholder meeting, flagging “egregious remuneration practices”.