Tesco awards chief executive €3.8m annual bonus

Tesco has awarded chief executive Dave Lewis an annual bonus of nearly £3m (€3.8m), according to sources.

The payout, to be revealed in the company’s annual report today will mean Mr Lewis pockets slightly less than his maximum entitlement of £3.13m.

Tesco’s 265,000 UK employees are also set to share a so-called “turnaround bonus” of £185m, equivalent to about 5% of each staffer’s salary, said the person, who asked not to be identified as the information is yet to be disclosed.