Under-fire Sainsbury’s boss gets £1.1m pay rise

SAINSBURY’S boss Mike Coupe is celebrating a £1.1 million pay rise, even as he faces severe criticism for stripping staff of benefits.

The supermarket chief executive, who is attempting to merge Sainsbury’s with rival Asda, has received a £3.4m pay package for 201718, according to the company’s annual report.

Mr Coupe’s basic salary rose two per cent to £943,000, and his total pay includes a £427,000 bonus and £1.8m in share awards.

Sainsbury’s said the bumper payout was awarded for hitting financial targets.

However, Mr Coupe has been criticised for taking home such a large amount while also removing employee benefits, such as paid breaks and bonus.

Labour’s Siobhain Mcdonagh, who has been leading a campaign urging Sainsbury’s to reverse its controversial plans, parodied the group’s slogan saying staff were forced to “work well, for less”.

The criticism comes after Mr Coupe faced embarrassment when caught singing show tune We’re In The Money on camera when announcing the Asda merger.

“What self-respecting chief executive would accept a million-pound pay rise whilst simultaneously slashing the salaries of 9,000 of his most loyal and longstanding staff?” the Mitcham and Morden MP said.

“Whilst Mike Coupe sings how he is ‘in the money’, his most dedicated staff are being made to work well, for less.”

A Sainsbury’s spokesman said: “Executive pay at Sainsbury’s is set by the remuneration committee and bonuses are subject to stretching targets. Mike was not awarded an annual bonus last year as the business did not hit its targets.

“The business has hit a number of targets this year, including increasing profit, which is why we have paid a bonus to eligible colleagues across the group.”