Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Andy Street says private sector pay is ‘out of control’

John Lewis managing director Andy Street has said that UK executive pay is “out of control”.

Talking on BBC’s Working Lunch programme today, Street, who is paid £500,000, said: “Private sector pay is out of control.”

He added: “We are heading the way of the [United] States.”

The criticism came after he was asked his opinion on M&S chief executive Marc Bolland’s remuneration package. Street refused to comment on Bolland in particular, but said the problem was wider.

Alongside Marks & Spencer, the boards of Tesco, Burberry and Sainsbury’s have all come under fire for the pay of high level company directors.

The John Lewis partnership caps its executives’ pay. Street said its model was a more “equitable way” of dealing with pay.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.