UK Business News
Tesco CEO’s Pay Is 430 Times More Than Average Member Of Staff
Tesco faces backlash after its CEO, Ken Murphy, earned nearly £10 million last year, a sum seen as a “slap in the face” to struggling workers amid a cost of living crisis.
Murphy’s compensation package has more than doubled from the previous year.
It is believed to be the highest ever for a Tesco boss.
It surpasses the £7 million paydays of former CEO Sir Terry Leahy.
Murphy’s pay includes a long-term bonus worth three times his basic salary.
This is paid in shares that must be held for at least two years.
It also includes a £3.4 million annual bonus tied to sales, profits, and individual objectives.
According to Tesco’s annual shareholder report, Murphy’s total pay now exceeds 430 times the average Tesco worker’s pay.
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