Sainsbury’s chief sees pay deal jump to almost £5m amid cost-of-living crisis
The boss of Sainsbury’s has been handed an almost £5 million pay package for the past year as shoppers face soaring food prices. Simon Roberts, who has been chief executive of the UK’s second largest grocery chain since 2020, saw his overall pay deal for the year to March rise by more than £1.4 million to £4.947 million. The pay deal – which was revealed in the company’s latest annual report – includes almost £4 million in bonuses despite the group posting lower profits for the year. His total pay package is around 229 times that of the average Sainsbury’s worker, who earns a typical £21,635, according to the annual report. Mr Roberts received a base salary of £899,000, as well as annual benefits of £17,000 and £67,000 worth of pensions payments. He also received an annual bonus of £1.7 million and long-term incentives worth £2.26 million. Sainsbury’s finance boss Kevin O’Byrne also saw his pay package improve for the year, according to the report. He received a pay deal worth a total of £3.3 million, up from £2.95 million for the previous year. His latest deal included a £675,000 base salary and around £2.5 million in bonuses, alongside other...