• The Financial Times reports that "the Change to Win Investment Group, which works with pension plans that serve the interests of the members of five US unions, is calling for Tesco to establish a committee of non-executive directors to review the future of Fresh & Easy, a move that could lead to its exit from the US.
“The way in which the interests of workers and shareholders intersect is when companies are run well,” says Michael Zucker, director of retail initiatives at CtW. “The proposals we are making would make the company run better, by making it articulate a sound strategy that could be endorsed by shareholders.”
Change to Win says it will look for other investor groups to join in its effort, which it hopes will bear fruit at Tesco's annual meeting a few weeks from now.
“The way in which the interests of workers and shareholders intersect is when companies are run well,” says Michael Zucker, director of retail initiatives at CtW. “The proposals we are making would make the company run better, by making it articulate a sound strategy that could be endorsed by shareholders.”
Change to Win says it will look for other investor groups to join in its effort, which it hopes will bear fruit at Tesco's annual meeting a few weeks from now.
- KC's View:
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Just another angle on trying to give the unions a way into Fresh & Easy. It won't work. Because not having union labor is totally irrelevant to whatever Fresh & Easy's competitive issues are.
