Christo Wiese, the former chair of Shoprite and its largest individual shareholder, met opposition from other investors in his efforts to retain his board seat at Africa’s biggest grocer.
Shareholders also objected to Shoprite’s pay policies on Monday, with 41% of ordinary shareholders voting against the remuneration plans. Lucas-Bull said at the meeting on Monday that a detailed review of the board had been conducted in 2020, to look at its composition and how it functioned.
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