Walmart CEO's annual pay rockets to $21m

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The Independent Online

The chief executive of Walmart enjoyed a double-digit increase in his total pay last year – pocketing $21m (£14m).

Mike Duke, who has led the world's biggest retailer since 2009, saw his bonus jump by more than half after a rise in the behemoth's annual profits. However, his bumper payout came in a period that has seen Walmart, which owns the UK supermarket Asda, face possible bribery charges in Mexico and some other countries in its global empire.

Mr Duke received a total package of $20.7m for the year to the end of January, including an increased salary of $1.3m and share awards of $13.6m. His cash bonus rocketed by 51 per cent to $4.4m.

Walmart has 10,700 stores in 27 countries and grew its operating profits by 4.7 per cent to $27.8bn last year on increased revenue of $466.1bn.

Asda, meanwhile, unveiled details of a huge investment this year. It plans to invest more than £700m in new and existing shops, and its web services, creating 2,500 new jobs. Asda lifted total sales by 4.5 per cent to £22.8bn in 2012.