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Hedin Group, which owns a 27pc stake in the car dealership, is planning to vote against the pay report at the AGM next month. The move followed a report from shareholder advisory firm Glass Lewis.
Pendragon chief executive Bill Berman has said he is “delighted” with the car retail group’s 2021 financial results, which revealed a record underlying profit before tax of £83 million.
Swedish car retailer Hedin Group could be lining up a second takeover bid for Pendragon after having an initial £400m offer rejected, it has been reported.
Swedish motor retailer Anders Hedin has increased his stake in the UK's top 10 AM100 group Pendragon to just over 25% of voting rights.
The Mail on Sunday can reveal that Pendragon has put 250 of its 400 accountants in a redundancy consultation that is due to end next month.