Bumper pay packets for bosses at UK's largest firms show we really aren't all in it together

The two bodies that published the report say companies risk undermining the solidarity created by the pandemic and call for reforms to pay setting remuneration committees. It's worth a try, says James Moore

Tesco CEO David Lewis, who received £6.42m last year
Tesco CEO David Lewis, who received £6.42m last year

Who fed the nation during lockdown? Was it outgoing Tesco boss David Lewis, who hauled in £6.42m - a 33 per cent increase over the previous year? Or was it the Tesco staff who put themselves at risk by turning up to work every day where they were handed T-shirts bearing the legend “we’re in this together”.

We clearly aren’t, as a report covering CEO pay from the Chartered Institute of Personnel & Development (CIPD) and the High Pay Centre makes very clear.

The 2019 median average of £3.6m for CEOs was flat, but still represents 120 times what the average worker made. Only a minority - 36 - of FTSE 100 companies have announced cuts to executive pay in response to the Covid-19 crisis.

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