£1.1M BONUS FOR THE TESCO EXECUTIVE SHAMED OVER COLLAPSE OF CARILLION

TESCO has handed shares worth £1.1m to the boss who presided over pay increases and bonuses at Carillion in the run-up to its demise.

Alison Horner, 51, pictured, was given 445,158 shares in the supermarket at 256.5p each as part of its performance share plan.

Chief executive Dave Lewis, 53, received shares worth £3.4m under the scheme.

Horner was promoted to chief executive of Tesco’s Asia business in May after being criticised for waving through pay rises and bonuses at Carillion as it fell into financial distress.

The outsourcer went into administration this year with a £2bn black hole in its pension scheme and £2bn owed to suppliers and lenders. Thousands of the firm’s 43,000 staff have lost their jobs as the Official Receiver in charge of the insolvency tries to find an buyer.

The shares will vest in 2021, when they can be cashed in subject to performance targets being met. Their value will be dependent on Tesco’s share price.