Tesco Directors Receive Hefty Pay Increase
LONDON - Tesco's board of directors received a hefty 47 percent increase in compensation last year, led by a 53 percent rise in total pay for Sir Terry Leahy, the retailer's chief executive, The Financial Times reports.
Leahy's total pay package increased to 2.46 million pounds, while all seven of his fellow executive directors received pay topping 1 million pounds. The biggest rises went to David Potts, retail director, whose pay rose 77 percent, followed by Philip Clarke, logistics and IT director.
Tesco on Monday said that some 100,000 of its 260,000 employees shared in "bonuses" of 207 million pounds.
The U.K.'s biggest food retailer last month reported a 14 percent rise in full-year pre-tax profits to 1.2 billion pounds.
Leahy's total pay package increased to 2.46 million pounds, while all seven of his fellow executive directors received pay topping 1 million pounds. The biggest rises went to David Potts, retail director, whose pay rose 77 percent, followed by Philip Clarke, logistics and IT director.
Tesco on Monday said that some 100,000 of its 260,000 employees shared in "bonuses" of 207 million pounds.
The U.K.'s biggest food retailer last month reported a 14 percent rise in full-year pre-tax profits to 1.2 billion pounds.