Dave Lewis gets £6.42m pay package – ‘every little helps’

Dave Lewis, the chief executive of Tesco has been handed a £6.42 million pay package, the highest annual pay packet for an executive, since the departure of Sir Terry Leahy in 2011.

Lewis received a £2.4 million annual cash bonus and another £2.4 million long-term share bonus on top of £1.6 million in basic salary and benefits. Lewis’ basic salary is a staggering three hundred and fifty five times that of the lowest-paid average employee at Tesco.

Tesco is expected to face a backlash for the multimillion-pound payouts after it was forced to defend a decision to pay a £635 million dividend to shareholders while accepting a similar-sized tax break from the government’s emergency coronavirus support package.

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