Tesco chief executive Dave Lewis' pay fell last year

Emma Haslett
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Dave Lewis' pay fell, despite a jump in Tesco's profits (Source: Getty)

Tesco chief executive Dave Lewis may have been roundly applauded by shareholders for his efforts to turn the supermarket around - but that didn't add up in his pay that year, which fell 10 per cent.

Tesco's annual report, published this morning, showed Lewis made £4.15m in 2016/17, down from £4.63m the year before.

The fall was largely thanks to his annual bonus, which dropped from £2.99m in 2015/16 to £2.36m last year.

Meanwhile, his salary stood at £1.25m, while he received £223,000 in benefits and £313,000 cash in lieu of pension.

Lewis' salary is 42 per cent lower than the £7.15m Sir Terry Leahy took in his final year as chief executive, in 2010/11 - although his successor, Philip Clarke, saw his pay fall as low as £1.63m just before he handed over the reins to Lewis in 2013/14.

Meanwhile, Tesco chairman John Allan was paid £666,000 in 2016/17, up from £660,000 in 2015/16.

Last month the supermarket reported a mammoth 30 per cent jump in profits, although one measure of pre-tax profit was hit by a fine from the Serious Fraud Office over false accounting.

Tesco is currently embroiled in a row with some of its shareholders over plans to buy wholesaler booker for £3.7bn.

Read more: Now you can do your Tesco shopping via Google Home's voice assistant

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