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Tesco CEO Ken Murphy has seen his pay more than double over the last year, taking home £9.93m, as the supermarket saw its profits soar.
Murphy, who took home a pay packet of £4.44m the year prior, saw his pay boosted by £4.91m as a result of his performance share plan (PSP), on top of an annual salary of £1.64m with a bonus of £3.38m.
The PSP payment is tied to the supermarket’s performance since 2021 and will be paid in shares.
Alongside this, the company’s CFO Imran Nawaz also saw his pay more than double, taking home £4.95m for the period.
These bumper payslips come after Tesco saw its pre-tax profits rise159% to £2.29bn in the 12 months to 29 February, up from £882m last year.
Within this, group sales excluding VAT and fuel increased 7.4% to £61bn, with UK like-for-like sales up 7.7%.
