J Sainsbury imposed a bonus freeze on executives, as it revealed that
Justin King was paid £5 million last year.
Britain’s third-largest supermarket said that it had lowered the cap
on bonuses that executives were allowed to earn, partly in response to
the recession and despite having confounded critics with its strong
performance during the downturn.
In its annual report, released yesterday, Sainsbury’s said that its
remuneration committee would restrict the potential for bonuses. The
supermarket group, which has more than 800 stores, said that the
decision had been taken in response to the trading environment and not
to head off criticism from shareholders.
To read the whole report click
here:
