1m payouts for top Tesco directors

16 May 2001

1m payouts for top Tesco directors

By FWI staff

THREE directors of supermarket giant Tesco were each paid more than 1 million last year, reports the Financial Times.

Chief executive Terry Leahy, who last month announced record profits,, saw his total remuneration rise 37% to 1.6m.

The other directors to receive more than 1m were deputy chairman David Reid and commercial director Jim Gildersleeve.

Tesco made pre-tax profits of 1.05bn — an increase of almost 13%.

It recently emerged that the National Farmers Union is a shareholder in Tesco, despite criticising supermarkets treatment of farmers.

Meanwhile, Asda has announced that it is to create 10,000 jobs across the country, reports the Daily Express.

Asda, which is part of the US-based Wal-Mart chain, said it wants to add between 30 and 50 staff at each of its 244 outlets.


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