Sir Terry Leahy, chief executive of Tesco, could be in line for a £9m share bonus under a scheme designed to reward him for developing the supermarket’s international business. The Times. Daily Telegraph. Financial Times
The New Business Incentive Plan, which will apply only to Leahy, hands him up to 2.5m shares. They will vest between 2011 and 2014 if targets for the expansion of Tesco in the US and elsewhere are met.
Tesco is due to open in the US this year. It is believed to be planning up to 500 stores there over three years and will invest £250m to launch the business.