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Sainsbury's boss Justin King earns just £3.2m

By Daily Mail Reporter
Updated: 04:57 EDT, 8 June 2011

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Sainsbury's boss Justin King took home £3.2m in pay and perks in 2010, as his package shrank drastically compared to the £8m trolley-load he earned in the previous year.

In its annual report, Britain's third-largest grocer (down 2.6p to 336.7p) said King had exercised fewer share options, while the company did not exceed its performance targets by as much as it did the year before.

King took home a basic salary of £900,000, while bonuses and benefits fell from £3.35m to £2.66m and he cashed in £588,000 worth of share options.

The Sainsbury's boss, whose basic salary will rise to £920,000 this year, attracted some criticism for last year's £8m packet, but shareholders nonetheless gave their overwhelming support to the payout.

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