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Tesco's IT boss becomes a millionaire

Tesco's top IT professional received a salary of more than a £1m last year after overseeing an IT project which saved the firm...

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Tesco's top IT professional received a salary of more than a £1m last year after overseeing an IT project which saved the firm £200m.

The retail giant demonstrated its commitment to IT this week when it revealed that Philip Clarke, the company's logistics and IT director, received a 75% rise last year - the second biggest rise of any director at the company, bettered only by the retail director whose 77% rise took his salary to £1.15m.

Clarke, who was appointed to the Tesco board in 1998, was responsible for overseeing the company's UK "step-change programme" which achieved savings of more than £200m last year by improving IT efficiency, the company said.

Tesco said a combination of new systems and processes had enabled the company to realise these savings. These included:
  • The introduction of a new, store-specific merchandising system which was a world first, according to Tesco

  • A new automatic scheduling system

  • The expansion of a continuous replenishment system to cover almost all food and drink lines.

The pay award was part of a £207m company-wide share-out, taking boardroom pay to a total of £13m - an increase of 47% overall.

The UK's biggest retailer last month reported a 14% rise in pre-tax profits to £1.05bn.

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