Morrisons man’s £6.1m welcome

Wm Morrison, the supermarket chain, will give incoming chief executive Dalton Philips a “golden hello” worth £6.1m. Philips, who joined from Canadian retailer Loblaw at the end of last month, has been handed a £2.2m target-linked share incentive plan along with £950,000 to compensate him for awards he would have received in his last job, with another payout of £350,000 vesting in 2010. This is on top of his basic salary of £800,000 and a bonus of up to £1.6m. The news is likely to stoke the row over executive pay after CBI boss Richard Lambert said high-fliers earning huge sums would be seen as “aliens” by the general public.