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Tesco to lock in bosses with £1m shares pay-out

Troubled supermarket Tesco wants to lock in its management team by offering them £1m worth of shares if they remain in the business until 2017.

The deal is not performance related and all executives involved will receive shares worth £976,552, if they are still at Tesco in July 2017.

According to This is Money the executives involved include the firm’s lawyer Adrian Morris, communication officer Rebecca Shelley, group property director Steve Rigby, strategy director Benny Higgins, international chief Trevor Masters, transformational director Jill Easterbrook and the company’s customer director Robin Terrell.

Earlier this month it was revealed that Tesco had to pay out £1.2m to former boss Phil Clarke despite an attempt by the grocer to halt payment pending a probe by the Serious Fraud Office.

@jillgeoghegan

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