Morrisons face shareholder revolt over “out of line” ex-CEO bonus

Supermarket chain Morrisons could face a shareholder revolt over the £1million bonus awarded to former CEO, Dalton Philips.

Voting advisory agency, Institutional Shareholder Service, described the bonus as “severely out of line”, recommending shareholders to vote against it.

Morrisons is said to be preparing for a substantial revolt against its remuneration at its upcoming AGM, taking place on Thursday.

Philips was removed from his role four months ago, shortly after Christmas sales figures revealed a poor festive trading period.