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Tesco Chief Executive Lewis Sees 10% Drop In Annual Pay Packet

Published on May 14 2019 3:01 PM in Retail tagged: Featured Post / Tesco / Dave Lewis / Paywall / Remuneration

Tesco Chief Executive Lewis Sees 10% Drop In Annual Pay Packet

Tesco's chief executive, Dave Lewis, earned a overall annual pay packet of £4.6 million in 2018/19, according to the retailer's annual report, published today (14 May).

Lewis' base salary for the period was £1.25 million, with the CEO also earning a £1.64 million bonus, £1.34 million through share plans, £313,000 in pension earnings and £61,000 in benefits.

However, Lewis' total pay was 10% lower than the previous year, in which the former Unilever executive earned a total of £5.11 million, boosted by a higher full-year bonus.

Lewis' pay is still significantly lower than that of former chief executive Sir Terry Leahy, who earned £7.15 million in his last year at the helm (2010/11). Leahy's successor, Philip Clarke, earned £4.6 million in his first year as CEO of Tesco (2011/12), but his salary was significantly reduced in the years that followed.

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