He's in the money: Sainsbury's boss Mike Coupe handed 46pc pay rise

Chief executive Mike Coupe
Chief executive Mike Coupe, who was awarded a £427,000 bonus this year

Sainsbury’s boss Mike Coupe's pay soared as he pocketed a £427,000 bonus ahead of the supermarket’s proposed mega merger with Asda.

The chief executive’s total pay jumped by 46pc to £3.4m in the last financial year, boosted by £1m worth of long-term share awards and a hefty cash bonus for hitting financial targets.

Mr Coupe also secured a 2pc salary rise for next year in line with other head office staff, increasing his salary to £962,297.

It comes after he dropped a PR clanger shortly after the £15bn Asda tie-up was announced when he was filmed singing "we’re in the money" from the musical 42nd Street.

John Rogers, the chief executive of Sainsbury’s Argos, has also enjoyed a significant bump...

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