It could be a tough week for Morrisons.
The supermarket group is likely to face unrest at this week’s annual meeting, with investors expected to protest against the £3m payoff awarded to former chief executive Dalton Philips, who stepped down in February.
The company also faces the ignominy of being booted out of the FTSE 100 at this week’s quarterly review. A decision will be made on Tuesday, but at Friday’s closing prices Morrisons is likely to be relegated to the FTSE 250, to be replaced by satellite communications group Inmarsat.
Morrisons is currently doing its cause no good, with its shares down 0.7p at 170.3p.
Inmarsat is up 2.5p at 995.5p.
