Singing Sainsbury's Boss Back In The Money
The chief executive of Sainsbury's, caught on camera in April singing "We're in the Money", received a bumper 2017-18 pay rise, the British supermarket group's annual report said on Friday.
Mike Coupe's total remuneration jumped to £3.43 million ($4.59 million) from £2.35 million in 2016-17.
Coupe, Sainsbury's CEO since 2014, made unwanted headlines with his singing hours after announcing that the supermarket he runs would buy rival Asda for £7.3 billion. He apologised and explained he had been trying to settle his nerves before a television interview.
His increased package reflects a 1.5% increase in base salary to £943,000, an annual bonus of £427,000 versus zero the previous year, and a long-term incentive plan payment of £1 million, up 58%. Other parts of his pay package were broadly stable.
In April Sainsbury's reported its first rise in annual profit in four years.