{"id":192,"date":"2023-06-21T12:45:27","date_gmt":"2023-06-21T12:45:27","guid":{"rendered":"https:\/\/mysainsburys.wiki\/?p=192"},"modified":"2023-06-21T12:45:27","modified_gmt":"2023-06-21T12:45:27","slug":"sainsburys-chief-executives-total-pay-reaches-5-million-amid-profit-drop","status":"publish","type":"post","link":"https:\/\/mysainsburys.wiki\/sainsburys-chief-executives-total-pay-reaches-5-million-amid-profit-drop\/","title":{"rendered":"Sainsbury&#8217;s Chief Executive&#8217;s Total Pay Reaches \u00a35 Million Amid Profit Drop"},"content":{"rendered":"\n<p><em><strong>6 June 2023<\/strong><\/em><\/p>\n\n\n\n<p><strong><em>Simon Roberts&#8217; remuneration package 229 times higher than average worker&#8217;s<\/em><\/strong><\/p><div class=\"c9e856b9b65e8f127c66421ef4e9cfa1\" data-index=\"2\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4690070700970079\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- mysainsburys 2 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4690070700970079\"\r\n     data-ad-slot=\"9808184558\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n\n\n\n<p>Despite a decline in profits at Sainsbury&#8217;s, the company&#8217;s chief executive, Simon Roberts, received a total pay package amounting to nearly \u00a35 million in cash and shares last year.<\/p>\n\n\n\n<p>The pay package is a stark contrast to the challenges faced by shoppers, who are grappling with the highest rate of food price increases in over four decades, resulting in financial strain for many households.<\/p>\n\n\n\n<p>Roberts&#8217; annual pay package primarily consists of a \u00a31.7 million bonus and \u00a32.2 million in share awards. This substantial amount puts his earnings at 229 times that of the average worker at the retail chain.<\/p>\n\n\n\n<p>Last month, Roberts refuted claims that the supermarket was profiting from high food prices, stating in an interview with the BBC that Sainsbury&#8217;s had &#8220;absolutely not&#8221; raised prices to bolster profits.<\/p>\n\n\n\n<p>Sainsbury&#8217;s pre-tax profits dipped to \u00a3327 million in the year ending March 5, down from \u00a3854 million during the same period the previous year.<\/p>\n\n\n\n<p>The company disclosed that Roberts received a 3.5% increase in his basic pay, bringing it to \u00a3899,000. However, this rise falls below the minimum 5.3% increase for the hourly-paid workers at the company. On average, a Sainsbury&#8217;s employee earns approximately \u00a322,000 annually.<\/p>\n\n\n\n<p>In total, Roberts&#8217; remuneration amounted to \u00a34.9 million, compared to \u00a33.5 million the previous year. Sainsbury&#8217;s asserted that it had invested \u00a3560 million to mitigate price increases for consumers.<\/p>\n\n\n\n<p>Nevertheless, Sharon Graham, general secretary at the Unite union, criticized the excessive bonus, stating, &#8220;The supermarkets have been protesting, claiming they&#8217;re not profiteering and contributing to the cost of living crisis. Meanwhile, people are paying the price at the tills. Simon Roberts&#8217; bonanza bonus tells a very different story.&#8221;<\/p>\n\n\n\n<p>Chancellor Jeremy Hunt has expressed concern over the &#8220;worryingly high&#8221; food inflation and held discussions with food retailers to explore methods of curbing prices.<\/p>\n\n\n\n<p>Retailers have assured that consumers will witness a difference at the checkout as global prices, such as energy costs, begin to decline. However, data from the Office for National Statistics reveals that food inflation remained stagnant at 19.3% in April, close to the record high of 19.6% from the previous month.<\/p>\n\n\n\n<p>The substantial pay package for Roberts raises questions about income disparity within the company and whether such high remuneration aligns with the challenging economic conditions faced by customers.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>6 June 2023 Simon Roberts&#8217; remuneration package 229 times higher than average worker&#8217;s Despite a decline in profits at Sainsbury&#8217;s, the company&#8217;s chief executive, Simon Roberts, received a total pay package amounting to nearly \u00a35 million in cash and shares last year. The pay package is a stark contrast to the challenges faced by shoppers, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sainsbury&#039;s Chief Executive&#039;s Total Pay Reaches \u00a35 Million Amid Profit Drop - Mysainsburys<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysainsburys.wiki\/sainsburys-chief-executives-total-pay-reaches-5-million-amid-profit-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sainsbury&#039;s Chief Executive&#039;s Total Pay Reaches \u00a35 Million Amid Profit Drop - Mysainsburys\" \/>\n<meta property=\"og:description\" content=\"6 June 2023 Simon Roberts&#8217; remuneration package 229 times higher than average worker&#8217;s Despite a decline in profits at Sainsbury&#8217;s, the company&#8217;s chief executive, Simon Roberts, received a total pay package amounting to nearly \u00a35 million in cash and shares last year. 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