Sainsbury's: Helping Everyone Engage Better

? 2024 Grocer of the Year Prize Winner, Sainsbury's slogan is "Helping everyone eat better", but based on their exemplary #hybrid AGM today, I'd go as far to say that they are "Helping everyone engage better".

With The Engagement Appeal - TEA 's valiant IRO at #Wimbledon today, it was just me on AGM attendance duty, and because four AGMs were all starting between 11am and 12pm, I had to join Sainsbury's AGM online for efficiency. We get asked all the time at TEA about our criteria for determining a good AGM. We have been to so many AGMs now since the end of April, and one that I will call out as a 'masterclass' on how to run an effective AGM is Sainsbury's. Here's why:

1?? ?? Notice of AGM: Clear, concise, and welcoming. Sainsbury's 20-page notice is jargon-free and easy to understand. The Chair's letter on page 2 provides all the essential info for attending in person or online. No more struggling to find basic details!

?? Before an AGM, I email the companies I plan to attend, sharing my intentions, letter of representation, and pre-submitting questions. Both the Co Sec team and their registrar, Equiniti , were communicative and acknowledged my email days before the AGM and again today.

?? 2??? Hybrid AGM: Sainsbury's offered both in-person and virtual attendance equally. Watching from my office, I felt like I was there thanks to Lumi Global's broadcast showing the Directors and the Company Secretary on stage, and the Non-Executive Directors. Shareholders could attend, ask questions, and vote both in-person and online. Ideal setup!

?? 3?? Full Board Presence: Sainsbury's AGM had the entire Board present in-person. Shareholders could engage with Chair Martin Scicluna, CEO Simon Roberts, CFO Blathnaid B., and retiring Company Secretary Tim Fallowfield on stage, with the rest of the Board in the front row - Jo Bertram, Brian Cassin, Jo Harlow, Adrian Hennah, Tanuj Kapilashrami, and Keith Weed. Reassuring to see this best practice kept up at Sainsbury's despite the option sometimes given by some companies to their directors to partcipate remotely. It's the one time of the year where shareholders can see the whole board together and have the opportunity to engage with them.

??4?? Ample opportunity and sufficient time allowed for questions: To experience Chair Martin Scicluna preside over the AGM was like watching a wise master mixing with his flock. He inspired both resepect, and esteem, as well as reassurance that he takes full ownership and pride in his role as Chair, and that he sincerely has the best interests of all stakeholder and the company as a whole.

The AGM lasted nearly two hours, and Mr Scicluna stayed true to this promise that he and the Board would address as many questions as possible. Note that this was no 'fluffy' meeting. Sure there were questions about parking lots, and specifics about local shops, but the shareholders in attendance were not only smart, they challenged robustly but respectfully, and even when they were making sharp criticisms (about the share price performance, staff moral, etc.), the said shareholders refered to the Sainsbury's stores and the company as "our stores", "our company". They are so invested in the company that they treat it like its their own.

What was also evident is the continuous engagement that exists between the shareholders and particularly the CEO and the Chair. This is a Board that takes time to get to know their investors, and the favour is returned with investors deep devotion to the company without the corny / cringey cult-following vibe that you get at other retailers.

??5?? Responsibility, accountability and transparency: This was an AGM with no gimmicks. It ran like clock-work with questions addressed sufficiently, with some, like the share price question, debated robustly. This is EXACTLY how you would expect a well-run AGM to operate. With responsibility, accountability, transparency and best practices in place, there is neither room nor necessity for special effects.

Finally, my questions were indeed asked and addressed meaninngfully over the AGM.

I must say, I am not a big Sainsbury's shopper, but after this AGM, I am going to frequent it much more to hopefully experience the reasons that led to them being named Grocer of the Year for the first time in 20 years and taste the flavours that inpire such deep loyalty from their shareholders.

Thank you Sainsbury's for reminding that not all things need to be reinvented, that strong, values- and principles- based practices speaks more volume than meaningless buzz-words.