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UK: Sainsbury’s boss gets pay rise despite failure of Asda deal

By  |  June 4, 2019

Sainsbury’s boss Mike Coupe, whose attempt to take over rival UK supermarket chain Asda resulted in failure, saw his total annual pay package rise to nearly US$5 million, the group’s annual report showed on Tuesday, June 4.

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    Coupe’s total remuneration for the financial year to March 9, 2019, was £3.88 million (US$4.9 million), up from £3.63 million in the previous year.

    Coupe, Sainsbury’s CEO since 2014, made unwanted headlines shortly after the £7.3 billion Asda deal was announced in May 2018 when he was caught on camera singing “We’re in the Money.” He apologised, saying he had been trying to compose himself before a television interview.

    His increased package for 2018-19 reflects a base salary of £962,000 (US$1.2 million), benefits of £17,000 (US$21,590), pension of £289,000 (US$367,036), an annual bonus of £593,000 (US$753,123), a deferred share award of £582,000 (US$739,151), and a long-term incentive plan of £1.44 million (US$1.8 million).

    Full Content: Telegraph

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