Tesco appoint new CEO on ridiculous salary!

[Thankyou4calling]

Ridiculously low!

Tesco employs well over half a MILLION people
Has a turnover in excess of £70 BILLION
And profit of over £3 BILLION.

They are easily the largest retailer in the UK and one of the largest in the world.

And yet the new guys salary is £1.25 million.

Don't get me wrong I'd love to earn that, but Wayne Rooney gets that A MONTH and I'd imagine someone like Harry Styles ( one direction singer) would be similar.

Seems there's a huge responsibility for not a lot of reward to me even though I'm sure there are performance bonus' available.

[JB!]

I'm sure there is a very healthy shares package with that...

[Prawnboy]

maybe he should be wearing a blue and white striped suit with 'value' on the back.

[LordGrover]

It's more a clear demonstration of how disproportionate/ludicrous sports and entertainments 'wages' have become.

[Thankyou4calling]

LordGrover said:

It's more a clear demonstration of how disproportionate/ludicrous sports and entertainments 'wages' have become.

Nail on head

[berlintaxi]

However the minute Harry Styles losses his talent or goes out of popularity his earnings drop off a cliff, whereas the fat scouser picks up a ridiculous sum every week no matter how crap he plays.

[Mr_B]

LordGrover said:

It's more a clear demonstration of how disproportionate/ludicrous sports and entertainments 'wages' have become.

Or the public indifference to who is allowed to earn what ?

[Hackney]

Harry Styles will earn nothing like the amount that Wayne Rooney does.... or even the amount that Dave Lewis will earn.

[crankedup]

JB! said:

I'm sure there is a very healthy shares package with that...

Not sure I would want a shares package in with my salary;) If the incoming C.E.O. can turn the business around there is sure to be a huge incentive package to be plucked out.

[SpeckledJim]

LordGrover said:

It's more a clear demonstration of how disproportionate/ludicrous sports and entertainments 'wages' have become.

But there are:

• Many more people who are qualified to be CEO of Tesco than there are people able replace Wayne Rooney.

• Many ways for a CEO to disguise a poor performance, but nowhere for a Man U striker to hide. He's either good enough or he isn't.

[Hackney]

And 60,000 people wouldn't pay to watch a Tesco board meeting

[SpeckledJim]

berlintaxi said:

However the minute Harry Styles losses his talent or goes out of popularity his earnings drop off a cliff, whereas the fat scouser picks up a ridiculous sum every week no matter how crap he plays.

Harry's in the business of being popular. Of course his income is linked to that.

Rooney's in the business of making and scoring goals, and his income is similarly linked to that.

[berlintaxi]

SpeckledJim said:

berlintaxi said:

However the minute Harry Styles losses his talent or goes out of popularity his earnings drop off a cliff, whereas the fat scouser picks up a ridiculous sum every week no matter how crap he plays.

Nonsense - Harry Styles has royalties forever. Rooney's contract ends exactly when it ends.

Not nonsense, Harry Styles will only get royalties if he wrote the song and if it is still played, the majority of pop stars income comes from tours and merchandising, directly linked to popularity, whereas I agree Rooney's contract will end at an agreed point but there is no obligation on him to do a good job during that period.

[SpeckledJim]

berlintaxi said:

SpeckledJim said:

berlintaxi said:

However the minute Harry Styles losses his talent or goes out of popularity his earnings drop off a cliff, whereas the fat scouser picks up a ridiculous sum every week no matter how crap he plays.

Nonsense - Harry Styles has royalties forever. Rooney's contract ends exactly when it ends.

Not nonsense, Harry Styles will only get royalties if he wrote the song and if it is still played, the majority of pop stars income comes from tours and merchandising, directly linked to popularity, whereas I agree Rooney's contract will end at an agreed point but there is no obligation on him to do a good job during that period.

Sorry, I deleted and re-phrased my post.

Rooney isn't obligated to perform well during his contract. But nobody is. The reason to perform well (outside intrinsic motivation) is to secure the next contract.

Just as Harry doesn't HAVE to give a good gig on any given night, but he tries (!) because he's on a good roll and wants it to continue.

My suggestion is that Harry's future income as a pop star has more longevity than a footballer's does.

[richie99]

SpeckledJim said:

But there are:

• Many more people who are qualified to be CEO of Tesco than there are people able replace Wayne Rooney.

• Many ways for a CEO to disguise a poor performance, but nowhere for a Man U striker to hide. He's either good enough or he isn't.

....and he isn't. To update a long running comment, he has now scored one more goal in a world cup match than I have.

[mattyn1]

Won't he get an in-store discount after having worked there for three months?

[jonnydm]

CEO may help generate good performance, for which I'm sure he'll be rewarded generously.

Rooney himself effectively sells shirts, enables the team to get into the Champions league + high up in the Premiership (or not!) which generates cash.

[RDMcG]

CEO salary is normally unimportant. The real money is in stock options and performance bonuses. Stock options can be huge, and are more tax efficient.

[SpeckledJim]

richie99 said:

SpeckledJim said:

But there are:

• Many more people who are qualified to be CEO of Tesco than there are people able replace Wayne Rooney.

• Many ways for a CEO to disguise a poor performance, but nowhere for a Man U striker to hide. He's either good enough or he isn't.

....and he isn't. To update a long running comment, he has now scored one more goal in a world cup match than I have.

No argument from me there.

But van Gaal is the man he has to persuade. If he can't, he's out.

A CEO can delay/disguise the appearance of poor performance by borrowing from the future.

A footballer can't do that. His level of performance is completely transparent.

[greygoose]

SpeckledJim said:

A footballer can't do that. His level of performance is completely transparent.

Yet Titus Bramble has remained employed as a footballer for many years .