Tesco's chief executive Philip Clarke turns down £372,000 bonus payment
Wednesday 23 May 2012
Philip Clarke, the chief executive of Tesco, has decided not to take a bonus this year after the grocery giant's issued its first profit warning in 20 years at the start of the year.
The Tesco lifer would have been entitled to about £372,000 if he had decided to take the 13.5 per cent of the maximum bonus being given to other executives. As a result, Mr Clarke's total pay nearly halved to £1.16m for the year to February.
Tesco's underlying sales fell over Christmas and it vowed to invest about £1bn to turn around its domestic performance. While its UK staff will share a bonus pot of more than £110m, 5,000 managers will see their bonuses slashed to 16.9 per cent of the maximum payable.
- 1 PlayStation and Xbox hacked by Lizard Squad
- 3 The Grace Dent Christmas Questionnaire
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Vagina canoe artist defends herself over ‘obscenity’ charges
PlayStation and Xbox hacked by Lizard Squad
Boxing Day snowfall set to push even more bargain-hunters online for sales
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Postcard from... The Vatican
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...