Ocado boss Tim Steiner has been the most rewarded executive in the industry in the last year, exclusive Retail Week analysis has revealed.
View the list in full here
Former banker Steiner, co-founder of the online grocer, received a total remuneration package of £5.88m in the etailer’s last financial year to November 2015.
His basic salary was £557,000, but Steiner’s package was boosted by share awards of £4.8m based on a long-term incentive plan. In its last full year, Ocado posted a 65.3% jump in pre-tax profits to £11.9m.
Second on our list is Majestic Wine boss Rowan Gormley, who took on the top job at the specialist retailer after the company he founded, Naked Wines, was acquired by Majestic.
However the South African entrepreneur is an outlier because he received a one-off payment of £5.1m related to the deal, bringing his total package to £5.4m.
Tesco boss Dave Lewis bagged the biggest payday among the top four grocers with total remuneration of £4.63m. Lewis has the largest basic salary of any retail executive – £1.25m.
Rival Mike Coupe, the boss of Sainsbury’s, picked up a total package of £2.8m. Coupe is likely to see a bumper pay day next time around once the grocer’s acqusition of Argos owner, Home Retail Group, completes.
Executive pay and bonuses are a controversial issue at present. Prime Minister Theresa May reignited the debate last month by calling for companies to reveal the ratio between the chief executive’s pay and an average worker.
The 50 best-rewarded executives of publicly listed retailers – list in full
| Rank | Retailer | Name | Ro;e | Base salary | Benefits | Total package | Financial year |
|---|---|---|---|---|---|---|---|
| 1 | Ocado | Tim Steiner | CEO | 557,000 | 5,323,000 | 5,880,000 | 2014/15 |
| 2 | Majestic | Rowan Gormley | CEO | 204,000 | 5,210,000* | 5,414,000 | 2015/16 |
| 3 | Next | Lord Wolfson | CEO | 751,000 | 4,013,000 | 4,764,000 | 2015/16 |
| 4 | Tesco | Dave Lewis | Group chief executive | 1,250,000 | 3,382,000 | 4,632,000 | 2015/16 |
| 5 | WHSmith | Stephen Clarke | Group CEO | 485,000 | 3,486,000 | 3,971,000 | 2014/15 |
| 6 | WHSmith | Robert Moorhead | CFO and COO | 364,000 | 3,172,000 | 3,536,000 | 2014/15 |
| 7 | Ocado | Duncan Tatton-Brown | CFO | 345,000 | 2,639,000 | 2,984,000 | 2014/15 |
| 8 | Sainsbury’s | Mike Coupe | CEO | 916,000 | 1,886,000 | 2,802,000 | 2015/16 |
| 9 | JD Sports | Peter Cowgill | Executive Chairman | 744,000 | 1,984,000 | 2,728,000 | 2015/16 |
| 10 | Tesco | Alan Stewart | CFO | 750,000 | 1,842,000 | 2,592,000 | 2015/16 |
| 11 | Morrisons | David Potts | CEO | 747,000 | 1,505,000 | 2,252,000 | 2015/16 |
| 12 | Ocado | Mark Richardson | Chief operations officer | 345,000 | 1,894,000 | 2,239,000 | 2014/15 |
| 13 | Marks & Spencer | Marc Bolland | CEO (at the time) | 975,000 | 1,064,000 | 2,039,000 | 2015/16 |
| 14 | Kingfisher | Véronique Laury | CEO | 700,000 | 1,283,000 | 1,983,000 | 2015/16 |
| 15 | Burberry | Christopher Bailey | CEO | 1,100,000 | 794,000 | 1,894,000 | 2015/16 |
| 16 | Sainsbury’s | John Rogers | CFO | 650,000 | 1,138,000 | 1,788,000 | 2015/16 |
| 17 | Dixons Carphone | Graham Stapleton | Chief executive, Connected World Services | 460,000 | 1,308,000 | 1,768,000 | 2015/16 |
| 18 | SuperGroup | Euan Sutherland | CEO | 675,000 | 1,002,125 | 1,677,125 | 2015/16 |
| 19 | Dixons Carphone | Sebastian James | CEO | 820,000 | 796,000 | 1,616,000 | 2015/16 |
| 20 | Ocado | Neill Abrams | Group general counsel | 289,000 | 1,279,000 | 1,568,000 | 2014/15 |
| 21 | Marks & Spencer | Helen Weir | CFO | 590,000 | 976,000 | 1,566,000 | 2015/16 |
| 22 | Home Retail Group | John Walden | CEO | 663,000 | 885,000 | 1,548,000 | 2015/16 |
| 23 | Morrisons | Trevor Stain | CFO | 525,000 | 924,000 | 1,449,000 | 2015/16 |
| 24 | Kingfisher | Karen Witts | CFO | 550,000 | 885,400 | 1,435,400 | 2015/16 |
| 25 | Next | Jane Shields | Group sales and marketing director | 404,000 | 1,024,000 | 1,428,000 | 2015/16 |
| 26 | Next | Michael Law | Group operations director | 404,000 | 1,015,000 | 1,419,000 | 2015/16 |
| 27 | Marks & Spencer | Patrick Bousquet-Chavanne | Executive director, marketing & international (at the time) | 541,000 | 589,000 | 1,130,000 | 2015/16 |
| 28 | Home Retail Group | Richard Ashton | CFO | 490,000 | 632,000 | 1,122,000 | 2015/16 |
| 29 | Dixons Carphone | Andrew Harrison | Deputy CEO | 550,000 | 509,000 | 1,059,000 | 2015/16 |
| 30 | Marks & Spencer | Steve Rowe | Executive direrctor, general merchandise (at the time) | 549,000 | 470,000 | 1,019,000 | 2015/16 |
| 31 | Debenhams | Michael Sharp | CEO (at the time) | 618,844 | 367,023 | 985,867 | 2014/15 |
| 32 | Pets at Home | Nick Wood | CEO (at the time) | 446,165 | 536,428 | 982,593 | 2015/16 |
| 33 | Dixons Carphone | Katie Bickerstaffe | Chief executive, UK and Ireland | 490,000 | 489,000 | 979,000 | 2015/16 |
| 34 | Card Factory | Richard Hayes | CEO (at the time) | 456,750 | 494,968 | 951,718 | 2015/16 |
| 35 | Dixons Carphone | Humphrey Singer | Group finance director | 475,000 | 467,000 | 942,000 | 2015/16 |
| 36 | Next | Amanda James | Group finance director | 253,000 | 641,000 | 894,000 | 2015/16 |
| 37 | Halfords | Jill McDonald | CEO | 450,513 | 400,948 | 851,461 | 2015/16 |
| 38 | Conviviality | Diana Hunter | CEO | 407,461 | 437,884 | 845,345 | 2015/16 |
| 39 | McColl’s Retail Group | James Lancaster | CEO (at the time) | 594,000 | 246,000 | 840,000 | 2014/15 |
| 40 | Marks & Spencer | Laura Wade-Gery | Executive multichannel director | 383,000 | 438,000 | 821,000 | 2015/16 |
| 41 | Carpetright | Wilf Walsh | CEO | 459,000 | 360,000 | 819,000 | 2015/16 |
| 42 | Mothercare | Mark Newton-Jones | CEO | 600,000 | 214,000 | 814,000 | 2015/16 |
| 43 | Burberry | John Smith | COO | 592,000 | 221,000 | 813,000 | 2015/16 |
| 44 | ASOS | Nick Beighton | CFO (at the time) | 436,594 | 367,804 | 804,398 | 2014/15 |
| 45 | DFS | Ian Filby | CEO | 390,000 | 400,000 | 790,000 | 2014/15 |
| 46 | Topps Tiles | Matthew Williams | CEO | 389,000 | 398,000 | 787,000 | 2014/15 |
| 47 | N Brown | Angela Spindler | CEO | 533,000 | 250,000 | 783,000 | 2015/16 |
| 48 | JD Sports | Brian Small | CFO | 264,000 | 484,000 | 748,000 | 2015/16 |
| 49 | DFS | Bill Barnes | Finance director | 294,000 | 431,000 | 725,000 | 2014/15 |
| 50 | Ted Baker | Lindsay Page | Chief operating officer | 417,000 | 284,000 | 701,000 | 2015/16 |
*Includes payments of £5.1m related to Naked Wines deal
Methodology
This data has been compiled by using the latest available annual reports of all listed UK retailers as of August 2016. It lists executive directors and only those that served throughout most of the financial year.
Benefits comprise a wide range of compensation such as pension payments, bonuses and performance related pay.
The data is for the indicated financial period and gives no indication of remuneration in the current financial year.
The list was compiled by Retail Week Prospect, an intelligence service offering insight and analysis on the UK’s retailers.
Want stories like this in your inbox?
Sign up to the Retail Week daily emails and get the biggest retail headlines each morning. Manage your newsletter preferences here: retail-week.com/newsletters
No comments yet