In People

New Tesco boss earns USD6.4m in six months

Britain’s biggest retailer Tesco paid new chief executive Dave Lewis GBP4.1 million (USD6.4m) in the six months after luring him from consumer goods group Unilever and tasking him with turning around the firm.

Tesco’s annual report for the year to 28 February published on Thursday showed Lewis, who succeeded the sacked Philip Clarke on 1 September, received salary of GBP570,000, benefits of GBP97,000, pension of GBP143,000 and GBP3.32 million in lieu of incentive awards he forfeited on leaving Unilever.

Last year, Tesco issued four profit warnings and was embroiled in an accounting scandal after a GBP263-million profit overstatement in the first half of its financial year. Its shares hit a 14-year low.

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