The replacement Tesco chief executive, Ken Murphy, has taken home a record £10.8m for last year, with a bonus of £3.4m and £5.7m in share awards, profiting from the grocery giant's record profits. Critics accuse him of 'profiteering' along with other retailers.
The boss of Tesco was paid a record-breaking £10.8m last year – the largest earnings deal ever dished out to a British supermarket boss. Ken Murphy topped up his £1.5m annual salary with extras, including a £3.4m bonus and £5.7m in long-term share awards.
The 59-year-old has taken home more than £41m since he became chief executive of the UK's largest grocer in 2020. The latest haul raised eyebrows after both Chancellor Rachel Reeves and Prime Minister Keir Starmer accused retailers of 'profiteering' as petrol prices rose after the start of the war in the Middle East earlier this year.
Those comments in March, after the US and Israel launched strikes on Iran, sparked a fierce backlash as supermarkets battled to keep a lid on prices and shelves stocked. The Government was also accused of lining its own coffers as fuel duty receipts soared. At the time, Asda boss Allan Leighton said it was scandalous for ministers to be 'pointing fingers' at retailers
Tesco Ken Murphy Record-Breaking Salary Record Profits Accusations Of 'Profiteering' Accusations Against Retailers
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