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Sainsbury's Boss Sees Pay Package Rise To $5m

Published on Jun 5 2019 9:40 AM in Retail tagged: Sainsburys / Mike Coupe / Asda / Salary

Sainsbury's Boss Sees Pay Package Rise To $5m

Sainsbury's boss Mike Coupe saw his total annual pay package rise to nearly $5 million (€4.5 million), the group's annual report showed on Tuesday.

Coupe's total remuneration for the financial year to March 9 2019 was £3.88 million (€4.4 million), up from £3.63 million (€4.1 million) in the previous year.

His increased package for 2018-19 reflects a base salary of £962,000 (€1.1 million), benefits of £17,000 (€19,203.6), pension of £289,000 (€326,461.5), an annual bonus of £593,000 (€669,867.4), a deferred share award of £582,000 (€657,441.5) and a long-term incentive plan of £1.44 million (€1.6 million).

Sainsbury's agreed deal to buy Asda was blocked by the UK competition regulator in April. Sainsbury's spent £46 million on the failed transaction.

Coupe said last month he would not quit.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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