Tesco chief Sir Terry Leahy was granted a pay rise of almost 25 per cent last year.
The UK’s number one supermarket group reported the salary hike in its annual report, released this weekend. Sir Terry was paid £3.98 million in salary, bonus and other benefits in the year to February 25, compared with £3.19m in the previous 12 months.
His basic salary rose by six per cent to £1.1m and his benefits increased by 44 per cent to £97,000. He was also granted 1.28m shares.
Tesco can afford it, it seems. The increase comes after the chain reported a 17 per cent rise in group sales and pre-tax profits of £2.2 billion.
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