Tesco boss Ken Murphy took more than £1m pay rise last year, bringing his total pay packet to over £10m.

Murphy’s pay last included £1.51m in basic pay, a £3.4m annual bonus and a £5.7m long-term bonus that includes shares in the listed grocery giant.

He stands to make even more money 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.

During Murphy’s tenure at the grocer, Tesco’s market share has risen to 28.1% from a nadir of 26.5% in 2020, according to figures from Worldpanel by Numerator, formerly known as Kantar. It is aiming for 30%, which would still be below its 2007 peak of almost 32%.

The grocer announced earlier in the year that its workers had been awarded a bonus after profits rose by 8.5% to £2.5bn in the year to February 28, while sales grew 4.3% in the same period to more than £66.6bn.

Staff will share £65m, which is equivalent to about £347 on average for a full-time member of staff, according to the report.

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