// Tesco boss Ken Murphy was paid £4.4m last year, the group’s annual report showed
// The chief executive has been awarded a 3% salary increase for the current year
Tesco boss Ken Murphy pocketed £4.4m in pay last year and has been awarded a salary increase, the group’s annual report showed.
The chief executive received a fixed pay of £1.71m and performance related pay of £2.73m, slightly lower than his previous pay packet totalling £4.75m.
It said Murphy would receive a 3% salary increase for the current year, which it noted was “considerably lower” than the 8% increase store staff received.
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Chief financial officer Imran Nawaz’s total pay packet increased from £1.91m to £2.27m last year.
Nawaz has also been rewarded a 4% salary increase for the current year.
Last month, the supermarket giant revealed its pre-tax profits had plummeted by more than 50% to £1bn over the past year due to soaring inflationary costs.
News of Murphy’s pay package comes as Tesco chairman John Allan has been accused of inappropriate and unprofessional behaviour at the group’s annual general meeting in June 2022.
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