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Tesco chief executive in the money

It has been revealed that Sir Terry Leahy, the chief executive of Tesco, received around £5.2 million in salary, bonus and shares last year as well as seeing his pension fund increase by 16% to £15.9 million. This comes at a time when Tesco is pushing ahead with a major expansion program, moving into new areas of the UK business arena, although the company has lost momentum of late in its core supermarket sector.

Sir Terry Leahy now owns around 7.8 million shares in Tesco, currently valued in excess of £30 million, with around 10.6 million options which will become available in the future. Despite the fact that many chief executives come and go in the UK business arena, Sir Terry Leahy has been with the company for 31 years and is now part of the furniture at Tesco. He has an understanding of the smallest details within the company due to the fact he worked his way up the ladder to the very top.

Under his stewardship there is no doubt that Tesco has become one of the UK's most successful companies and is continuing to expand its business base on a regular basis. The company recently reported pre-tax profits of £3.4 billion for the year to the end of February 2010 which is an increase of 10% on last year.

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