Tesco’s new chief executive Dave Lewis has been awarded share options in the retailer worth almost £2.8m to compensate him for awards he was forced to give up when he left Unilever.
Lewis, who joined the troubled supermarket in September, was given almost 1.7m options over Tesco shares, which he will be given the rights to in three tranches - in February 2015, 2016 and 2017.
The number of shares awarded to Lewis, who receives a salary of £1.25m a year, in addition to £525,000 in lieu of pension payments, was calculated using the average price over the four trading days immediately following his appointment on September 1, which was 230.36p a share, The Telegraph reported.
The retailer’s new finance director, Alan Stewart, who joined Tesco from Marks & Spencer on September 23, three months earlier than expected, has also been handed share options which are currently worth close to £1.5m.
At the weekend Lewis revealed that his bonus package is under review by senior non-executives, as he fights to turn around the supermarket’s fortunes following the recent accounting scandal.