[UK] Total pay of Sainsbury’s chief exec rises to £5 million

In the UK, the boss of Sainsbury's was paid nearly £5 million in cash and shares last year despite a profits drop at the supermarket, BBC News reports.

The annual pay package of chief executive Simon Roberts is 229 times more than the average worker at the retail chain is paid.

The majority of Mr Robert's package is reportedly made up of a £1.7m bonus and £2.2m in share awards.

UK shoppers are currently coping with the highest rate of food price rises in more than four decades and the cost of living has left many households struggling to stay afloat.

In May, Mr Roberts told the BBC that the supermarket giant was not profiting from high food prices.

Retailers have reportedly been hit by accusations of "greedflation" but Mr Roberts said Sainsbury's had "absolutely not" put prices up to bolster profits.

The supermarket's pre-tax profits fell to £327m in the year to March 5, from £854m in the comparable period.

Sainsbury’s stated that Mr Roberts had received a 3.5 per cent increase in his basic pay, taking it to £899,000.

It said this rise was below the minimum 5.3 per cent increase for the company's hourly-paid workers. The average Sainsbury's employee earns around £22,000.

In total, Mr Roberts was paid £4.9m compared to £3.5m in the previous year.

Sainsbury's reportedly claimed that it had spent £560m trying to hold back prices for shoppers.

Responding to this, Sharon Graham - general secretary at the Unite union - said, "The supermarkets have been protesting, claiming they're not profiteering and contributing to the cost of living crisis. Meanwhile, people are paying the price at the tills.

"Simon Roberts' bonanza bonus tells a very different story."

UK Chancellor Jeremy Hunt has previously voiced his concern over "worryingly high" food inflation and has met with food retailers to discuss ways of reining in prices.

Retailers have been claiming that shoppers would begin to see a difference at the tills as global prices, such as energy, began to fall.

However, figures from the Office for National Statistics reportedly reveal that food inflation in April was stuck at 19.3 per cent, remaining near the record high of 19.6 per cent during the previous month.

Source: BBC News

(Quotes via original reporting)

In the UK, the boss of Sainsbury's was paid nearly £5 million in cash and shares last year despite a profits drop at the supermarket, BBC News reports.

The annual pay package of chief executive Simon Roberts is 229 times more than the average worker at the retail chain is paid.

The majority of Mr Robert's package is reportedly made up of a £1.7m bonus and £2.2m in share awards.

UK shoppers are currently coping with the highest rate of food price rises in more than four decades and the cost of living has left many households struggling to stay afloat.

In May, Mr Roberts told the BBC that the supermarket giant was not profiting from high food prices.

Retailers have reportedly been hit by accusations of "greedflation" but Mr Roberts said Sainsbury's had "absolutely not" put prices up to bolster profits.

The supermarket's pre-tax profits fell to £327m in the year to March 5, from £854m in the comparable period.

Sainsbury’s stated that Mr Roberts had received a 3.5 per cent increase in his basic pay, taking it to £899,000.

It said this rise was below the minimum 5.3 per cent increase for the company's hourly-paid workers. The average Sainsbury's employee earns around £22,000.

In total, Mr Roberts was paid £4.9m compared to £3.5m in the previous year.

Sainsbury's reportedly claimed that it had spent £560m trying to hold back prices for shoppers.

Responding to this, Sharon Graham - general secretary at the Unite union - said, "The supermarkets have been protesting, claiming they're not profiteering and contributing to the cost of living crisis. Meanwhile, people are paying the price at the tills.

"Simon Roberts' bonanza bonus tells a very different story."

UK Chancellor Jeremy Hunt has previously voiced his concern over "worryingly high" food inflation and has met with food retailers to discuss ways of reining in prices.

Retailers have been claiming that shoppers would begin to see a difference at the tills as global prices, such as energy, began to fall.

However, figures from the Office for National Statistics reportedly reveal that food inflation in April was stuck at 19.3 per cent, remaining near the record high of 19.6 per cent during the previous month.

Source: BBC News

(Quotes via original reporting)