Tesco boss Ken Murphy saw his pay more than double over the last year, after the supermarket’s profits rocketed.
The CEO was paid almost £9.93m during the period, after receiving £4.44m the year before, with the pay boosted by £4.91m from Murphy’s performance share plan (PSP).
The PSP payment is based off the grocer’s performance since 2021 and is set to be paid in Tesco’s shares.
Additionally, the supermarket boss was paid an annual salary of £1.64m and annual bonus of £3.38m.
Tesco’s chief financial officer Imran Nawaz was also paid more than double his salary from the year before, raking in £4.95m for the period.
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The bumper payouts comes after Tesco profits more than doubled over the past year, as it said price pressures on supermarkets continued to ease.
The grocery giant saw pre-tax profits skyrocket 159% to £2.29bn in the 12 months to 29 February, up from £882m last year.
Group sales excluding VAT and fuel surged 7.4% to £61bn, with UK like-for-likes up 7.7% “driven by a strong performance across all formats and channels”.
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