Sainsbury's and M&S guilty of pay disparity

Sainsbury’s and Marks and Spencer have come under fire from shareholders over the disparity in pay between executives and staff.

Pirc, the shareholders advisory group, has raised concerns over the seemingly excessive wage of Mike Coupe, Chief Executive of Sainsbury’s, and the bonuses of his predecessor Justin King.

Coupe’s pay last year was £1.5million, which Pirc deemed uneven in relation to the average pay of a Sainsbury’s employee. As for King, the shareholders have raised “significant concerns” over his termination arrangements, which include long-term share awards based on performance targets.

Manifest, a proxy voting agency, claims that King could be entitled to 211% of his former salary, amounting to £1.9million.