Every little helps: Tesco chief executive to grab £3m bonus
Tesco’s chief executive has been awarded an annual bonus of nearly £3m, the company's annual report, published this morning, revealed.
The award, which represents 96 per cent of Lewis's maxmimum payout, comes after Tesco moved back into pre-tax profit last year following a record £6.4bn annual loss in 2014.
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Lewis will also take home a base salary of £1.25m for his role at the head of the UK's largest supermarket, bringing his total remuneration for 2015/16 – his first full year as chief executive – to £4.6m.
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Tesco said that it was starting to get a grip on some of the key challenges facing the embattled retailer, and was becoming more relevant to its customers. Challenges around digital transformation and data security, however, were on the rise.
Read more: Tesco misses sales forecasts but beats consensus on profit
Lewis said: "We have stabilised the business and we are on track with where we expected to be. Of course there is still more to do – but we are on the road to recovery and momentum is building across the business."
Since Lewis took over at Tesco in September 2014, their share price has fallen by more than 30 per cent from 225p to 154p.