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Tesco IT chief picks up £2.2m pay packet
Every little helps...

By Andy McCue

Published: Tuesday 30 May 2006

Performance-related bonuses have swelled the annual pay packet of Tesco's global IT and operations director to just over £2.2m.

That represents an almost 23 per cent rise in the £1.79m earnings that Philip Clarke, international operations and IT director at Tesco, picked up the previous year.

The £2.2m is made up of a base salary of £628,000 and various short- and long-term cash and share bonus rewards that are part of the director-level remuneration scheme at Tesco.

The 45-year-old executive director Clarke is one of Tesco's top management earners although not even he came close to the almost £4m bonus-related package picked up by CEO Sir Terry Leahy.

The salary details are revealed in Tesco's 2006 annual report for the financial year ended 31 March 2006, which saw the supermarket giant post record profits of £2.25bn, boosted by online sales that topped £1bn.