As revolts go, the shareholder uprising against Tesco’s record in fighting obesity was quick and painless.
Within a month of being called out by a group of rebel shareholders for its alleged lack of progress and transparency in making products healthier, the UK’s biggest retailer announced a new commitment on reformulation that looks set to see thousands of products delisted over the next four years.
From branding it a laggard, shareholders behind the rebellion were left praising Tesco for its “world-leading commitment” on health.
So how significant are the new commitments, for Tesco, its suppliers, its rivals and for the shareholder activism movement?
Saturday, 06 Mar 2021 12:26 PM MYT
Britain’s top supermarket said it would strive to raise sales of healthy products to 65 per cent of total sales by 2025, up from 58 per cent currently. Reuters pic
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LONDON, March 6 British supermarket chain Tesco announced yesterday targets to offer more nutritious foods following pressure from shareholders to take part in efforts to combat obesity.
Britain’s top supermarket said it would strive to raise sales of healthy products to 65 per cent of total sales by 2025, up from 58 per cent currently.
It also set 2025 targets for increasing sales of plant-based meat alternatives by four, as well as having its prepared meals contain at least one of the five daily government-recommended fruit and vegetable portions.
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