The investor group heaped pressure on the UK’s biggest supermarket grocer, calling on Tesco to expand its commitments, keeping its resolution on the table for the retailer’s summer annual general meeting.
However, the resolution has now been withdrawn hanks to the latest commitments from the supermarket giant and said they will engage with Tesco over the next two years as the retailer puts them in place.
Louisa Hodge, engagement manager at ShareAction, added: “By filing a shareholder resolution, our investor coalition sent a strong message to Tesco and to other supermarkets that shifting sales toward healthier options is important.