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10 Million Salary - A job well done or should salaries be capped?

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Tesco boss's pay more than doubles to £10m​


The boss of Tesco has seen his pay package more than double to £10m following a bumper share award.

Ken Murphy, who took over as chief executive of the UK's largest supermarket group in October 2020, was paid £4.7m in salary and bonuses in the year to February.

The rest came from shares that were awarded to Mr Murphy when he joined and paid out this year after he surpassed a number of performance targets.

For the coming year, Mr Murphy's basic salary will be increased by 3%, which Tesco said was below a raise for its UK hourly-paid colleagues.

The company said: "When considering base salary increases for our senior executives, the committee continues to be mindful of both the wider colleague experience and our fairness principles."

Tesco staff earn £12.02 or £13.15 an hour, depending on where they work.

 

Cassandra Syndrome

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Extortionate and who needs to have a salary as big as the lottery each year?

Clearly Tesco can cut far more prices instead of making huge profits.