Sainsbury’s boss has been given a pay package worth almost £5 million pay package as shoppers face record high food prices.
Simon Roberts saw his overall pay deal for the year to March rise by more than £1.4 million to £4.947 million despite the supermarket's annual profits taking a hit from rising costs.
The pay deal, revealed in the company’s latest annual report, includes almost £4 million in bonuses.
The "bonanza bonus" came as the supermarket held back price rises for shoppers after posting lower profits for the year.
Mr Roberts' 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.
The supermarket boss 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, with 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 benefits.
Sainsbury's reported a 5% fall in underlying pre-tax profits to £690 million for the year to March 4.
It came as the firm said it spent £560 million on improving prices as shoppers came under pressure from rampant food and drink inflation.
Food inflation struck 19.3% in April, according to the latest figures from the Office for National Statistics (ONS), remaining near the 45-year-high of 19.6% recorded the previous month.
The soaring inflation has included sharp increases in the price of staples such as milk, bread and eggs.
Unite general secretary Sharon Graham said: “The supermarkets have been protesting, claiming they’re not profiteering and contributing to the cost-of-living crisis.
“Meanwhile, people are paying the price at the tills.
“Simon Roberts’ bonanza bonus tells a very different story. His £5 million pay package is a reward for delivering profiteering profits.”
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