Tesco boss declines £372,000 bonus

Tesco chief executive Philip Clarke’s pay was cut by 49% after he declined a bonus amid slumping earnings at the British retailer. The Irish Times reports the executive’s total pay was €1.2 million in fiscal 2012, compared with €2.3 million a year earlier. Clarke declined a bonus payment of approximately £372,000, stating that “I wasn’t satisfied with the performance in the UK and I won’t take the bonus.”


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