Tesco boss’s pay rises by more than £1m to £10.8m after market share surge

Ken Murphy’s pay could rise even higher following scrapping of food waste target and weakness of rivals

Business live – latest updates

The boss of Tesco made £10.8m last year, about £1m more than the year before, as the UK’s biggest supermarket hit its highest share of the market in a decade.

Ken Murphy could make even more this year after being handed a 3% rise in basic pay to £1.54m and cutting food waste was scrapped as a target for his long-term bonus, according to Tesco’s annual report.