Tesco boss Ken Murphy has seen his pay deal more than double to almost £10 million for the past year. Photograph: Nicholas.T.Ansell/PA WireTesco boss Ken Murphy has seen his pay deal more than double to £9.93 million for the past year.
Mr Murphy’s latest deal was driven by £4.91 million from his performance share plan after helping led the company to higher profits in the face of a challenging inflation backdrop.‘I lost €1,000 in cash on the way to the bank to lodge it. Someone in Dún Laoghaire had a big win that day’This PSP payment will be paid out in Tesco shares and is based on the company’s performance since 2021.
However, the retailer came under criticism at the time for revealing the bumper profits when many customers had been impacted by rampant food and drink inflation, which soared in the face of supply chain disruption and the Russian invasion of Ukraine. “A large proportion of the total package has been achieved because the business met stretching targets in a highly competitive sector and worked to create value for customers, colleagues, suppliers, communities and shareholders.
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