Last year, the Tesco boss was paid more than £4 million despite shoppers facing soaring food prices.
Ken Murphy took home £4.44m and his £1.37m salary was supplemented by bonuses and other perks.
– Advertisement –
Although this was less than the £4.75 million it earned last year, critics said it was “a bad look for Tesco” given that many customers are struggling with rising food prices.
– Advertisement –
Responsible: Tesco boss Ken Murphy.
Inflation in the UK is just over 10 percent, but average food prices are up nearly 20 percent from last year.
– Advertisement –
And Murphy’s salary is 200 times higher than the average salary at Tesco, which is around £20,000.
Cork-born Murphy is also known to be registered for Irish taxes and pays a lower rate there than in the UK.
Andrew Speke of the High Pay Center think tank said: “This is a bad look for the Tesco boss given the current climate and high food prices.
“He should prioritize keeping food prices low and wages high for workers.”
The payout follows a turbulent week for Tesco after its chairman, John Allan, was forced to deny he touched women’s butts twice. He was paid £713,000, up from £695,000 a year earlier.
There is widespread anger at the so-called “supermarket speculation” where grocers are accused of cashing in on rising prices. Tesco’s sales last year were £57.7bn and profits were £2.6bn.
MPs are investigating rising food prices and whether parts of the supply chain are benefiting “unduely” from food inflation.
