成人论坛

Sainsbury's chief executive total pay rises to 拢5m

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Sainsbury's boss Simon RobertsImage source, Andrew Porter Photography
Image caption,

Simon Roberts new pay deal is worth almost 拢5m, an increase of more than 拢1.4m on last year

Sainsbury's boss was paid nearly 拢5m in cash and shares last year despite a drop in profits at the supermarket.

Simon Roberts' annual pay package is 229 times more than the average worker at the retail chain.

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

Shoppers are facing the highest rate of food price rises in more than four decades, leaving many households struggling with the cost of living.

Last month, Mr Roberts told the 成人论坛 that the business was not profiting from high food prices.

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

Sainsbury's pre-tax profits fell to 拢327m in the year to 5 March from 拢854m in the comparable period.

The company said that Mr Roberts had received a 3.5% increase in his basic pay to 拢899,000.

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

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

Sainsbury's said it spent 拢560m trying to hold back prices for shoppers.

But 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."

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

Retailers have said that shoppers would start to see a difference at the tills as global prices such as energy began to fall.

But figures from the Office for National Statistics show food inflation in April was stuck at 19.3%, remaining near the record high of 19.6% in the previous month.