Tesco commit to changes to all UK stores amid shareholders junk food row. (PA) Tesco has pledged to boost sales of healthy foods and drink across its entire retail empire amid calls to help tackle the UK’s obesity crisis. The retail giant faced pressure from a consortium of investors, led by responsible investment group ShareAction. Investors cheered a “landmark victory” after Tesco widened the scope of its healthy food promise to cover not just its UK and Ireland operations, but also its Central European business and wholesale supplier Booker Group. The seven investors, representing around £140 billion in assets, had filed what was thought to be the first nutrition-based shareholder resolution in February calling on the retailer to cut its reliance on junk food for sales growth.
Published in Food on 05-05-2021 Yau Ming Low / Shutterstock.com
Tesco is putting consumers on a mandatory diet: The British supermarket group closely avoided protests at its annual general meeting by taking stronger action against obesity.
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Tesco has been forced into action against obesity by activist shareholders. ShareAction, a shareholder group, had planned to revolt at its annual meeting next month because they felt the supermarket group was lagging behind other retailers in the fight against obesity.
The coalition of institutional investors, which even included one of Tesco s own charities, Guy s & St Thomas Charity, would table a motion, along with more than 100 individual shareholders. According to Louisa Hodge, engagement manager at ShareAction, investors recognise the importance of health. By filing a shareholder resolution, our investor coalition sent a strong message to Tesco and other supermarkets that shifting sales toward h