NEWS

Tesco set to reward senior bosses with shares worth £25m

Published on: 29th July 2015

Tesco is set to infuriate investors as it reveals plans to reward its senior bosses with shares worth £25m.

Tesco480The rewards are likely to anger investors who have seen their holdings fall by nearly a fifth during the past 12 months.

The retailer said all its senior executives could receive the huge shares windfall in two different schemes. Eleven board members stand to receive £16.9million of shares in July 2018 if specific targets are met as part of its Performance Share Plan.

In a statement to the stock exchange, Tesco said chief executive Dave Lewis could receive 1,566,987 share options priced at 219.37p, which would be worth £3.4million, while finance director Alan Stewart is in line for £1.8million. Matt Davies, who recently joined from Halfords to run the UK business, is in line for £1.5million while Tesco Bank boss Benny Higgins is set for £1.7million.

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