Companies

Tesco defends bumper pay packet for Irish chief executive Ken Murphy

The retailer had met a number of challenging targets over the last year, the remuneration committee said

The head of Tesco’s remuneration committee defended the bumper pay packet.

The chairwoman of Tesco’s remuneration committee has defended the bumper pay deal chief executive Ken Murphy received last year, saying that the company had delivered for its stakeholders and met its targets.

Murphy, the Irish business executive, saw his pay deal at Tesco more than double to almost £10 million (€11.7 million) for the past year.

It means the Tesco chief executive has been paid 431 times the wage of the average Tesco worker – ...