UK - Scheme concerns over remuneration deals for two Safeway directors would be addressed if the firm was not facing a take-over, the supermarket giant says.
The store, the UK’s fourth biggest grocer, has five rivals bidding for it.
Speaking at a shareholders’ meeting, chairman David Webster said the current climate surrounding Safeway meant it was not the right time to deal with calls for an end to so-called “fat cat” payoff deals.
A spokeswoman said: “We are sympathetic to concerns but at the moment it is not the right time to change contracts.
“If Safeway remains independent a review of contracts will be undertaken.”
The concerns surround finance director Simon Laffin and services director Richard Williams, who are both entitled to payoffs worth twice their salary.
Webster himself will be entitled to one-and-a-half times his salary under a special agreement.
Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.
In this week's Pensions Buzz, we want to know if you believe there is ever a case for combining retirement savings products with other savings products, and if the PPF levy for sponsorless schemes is appropriate for DB consolidators.
The Insolvency Service has disqualified four directors of trustee firms from running companies for a total of 34 years following an investigation.