Details of the boardroom payouts at Sainsbury’s have emerged as the retailer faces criticism about changes to pay and conditions for its shop workers that will leave about 9,000 staff worse off. Bizarre legal drama sees Sainsbury's boss Mike Coupe sentenced to two years in jail in Egypt (in his absence) By Jonathon Hopkins for Thisismoney.co.uk. To attach any wider meaning to this innocent, personal moment is preposterous. Michael was appointed Chief Financial Officer of Sainsbury’s Bank in September 2018. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker, If You Had Bought J Sainsbury's Shares Five Years Ago You Would Be Down 26%, British home working drives 5.3% August grocery sales growth -Nielsen, Amazon expands Morrisons deal with full-range offer, Any third party investor in Asda must help growth, says finance chief. [12], Coupe became a life patron for GroceryAid in August 2015. Mike has vast retail industry experience in trading, strategy, marketing, digital and online as well as multi-site … He joined from the Royal Bank of Scotland where he was the Finance Director for Personal and Business Banking. Michael Andrew Coupe (born 26 September 1960), is a British businessman who was the CEO of J Sainsbury plc, parent company of the supermarket chain Sainsbury's, from July 2014 until the end of May 2020. [5] In 2016 he led the takeover of Home Retail Group which included Argos and Habitat. The retailer says is investing £110m in a wage increase for 93% of its 130,000 shop workers – from £8 to £9.20 an hour, or £9.80 in London – to give an average pay rise of 9.3%. Generally speaking, the bigger the hexagon is, the more valuable Mike Coupe networth should be on the internet! Coupe was born in Watford, Hertfordshire in 1960. [1], Coupe began his career at Unilever, where he became assistant brand manager for Flora margarine. After the first interview, during the transition to the next, his microphone remained switched on and he began singing 'We're in the Money'. [3] In 2010, he became responsible for the marketing, trading and online operations of the company. He received a £1m long-term share bonus relating to performance at the business over the three previous years, and a £758,000 deferred share bonus, up from £716,000 a year before. Michael Coupe Net Worth Michael Coupe biography. Disclamer: Mike Coupe net worth are calculated by comparing Mike Coupe's influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with anybody else in the world. Available for everyone, funded by readers. [6], In March 2018 he announced new pay arrangements for colleagues. His fellow directors Kevin O’Byrne, the finance chief, and John Rogers, who heads the Argos business, also earned annual bonuses worth more than £400,000, taking their pay to £1.45m and £2.21m respectively. Chief executive Mike Coupe was handed the sentence after former Sainsbury's business partner Amr el-Nasharty, an Egyptian, claimed Mr Coupe had tried to seize money from him last year. Mike Coupe was widely mocked in April when he was filmed singing one of the best known songs from the musical 42nd Street. [7], Coupe oversaw digital transformation and investment at Sainsbury’s, including the introduction of the UK's first till-free stores and the digitisation of the Nectar loyalty card through a new app and website. In recent years he has lived in the Holgate area of York but he frequently travels between London and Yorkshire. Michael Andrew Coupe (born 26 September 1960), is a British businessman who was the CEO of J Sainsbury plc, parent company of the supermarket chain Sainsbury's, from July 2014 until the end of May 2020. [4][3], Soon after Coupe's appointment, he announced a strategic review that aimed to address the challenges caused by a changing retail market. [17], In 2019 he was criticised for reducing the amount traditionally paid towards a Christmas party for Argos colleagues, when he sought to bring it in line with money paid towards the Sainsbury’s Christmas party. [18], "5 things you didn't know about new Sainsbury's boss Mike Coupe", "Mike Coupe: Sainsbury's Mr Straight | Business", "Mike Coupe: Justin King's successor at Sainsbury's", "Sainsbury's CEO Justin King to step down in July", "Sainsbury's to change strategy as sales fall victim to 'radical' change in shopping habits", "Sainsbury's agrees terms to buy Home Retail Group in £1.3bn deal | Business", "Sainsbury's announces pay rise for store staff and contract shake-up", "Sainsbury's launches UK's first till-free grocery store", "Sainsbury's boss Mike Coupe in Surprise Exit", "Sainsbury's chief executive Mike Coupe to step down in May", "Ex-Sainsbury's boss to join beleaguered Test and Trace as NHS chief returns to trust", "Mike Coupe to become GroceryAid Life Patron", "GroceryAid announces Mike Coupe is to extend presidency", "Sainsbury's boss sorry for singing We're in the Money", "Sainsbury's chief sings 'We're in the Money' after Asda merger", "Mike Coupe, the Sainsbury's boss, regroups", "Argos staff Christmas bonus cut by boss caught singing 'We're In The Money, David Sainsbury, Baron Sainsbury of Turville, John Sainsbury, Baron Sainsbury of Preston Candover, https://en.wikipedia.org/w/index.php?title=Mike_Coupe&oldid=985685203, Creative Commons Attribution-ShareAlike License, This page was last edited on 27 October 2020, at 10:13. Are Institutions Heavily Invested In J Sainsbury plc's Shares? Coupe’s pay package remains substantially less than rival supermarket bosses, with Dave Lewis at Tesco facing a potential backlash from investors at next week’s annual shareholder meeting after earning nearly £4.9m last year, up 17.5%. It operates through three segments: Retail – Food, Retail – General Merchandise and Clothing, and Financial Services. Coupe received the cash bonus despite reporting a near 19% fall in profits, because he hit targets linked to the supermarket’s takeover of Argos and the Nectar loyalty card scheme and also met a minimum profit target. ", telling BBC Radio 4: "This is just outrageous". Mr Coupe has led Sainsbury's for almost six years, during which time he oversaw a failed attempt to merge with rival supermarket Asda. J Sainsbury plc was founded in 1869 and is headquartered in London, the United Kingdom. Coupe was born in Watford, Hertfordshire in 1960. It is also involved in online grocery and general merchandise operations. In addition, the company offers financial services, such as credit cards, and travel money and personal loans, as well as home, car, pet, and life insurance. An accomplished musician, he was caught off-guard singing while waiting to be interviewed on ITV about a planned merger with Asda. J Sainsbury plc, together with its subsidiaries, engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom. He has recently had a 2% pay rise to £962,297. [13] He was previously the fundraising president from 2012 to 2014. Sainsbury's issued a further statement: "We all know these songs stay in your head. David Potts at Morrisons earned £5.8m last year when he doubled his pay after earning a £3m long-term bonus. Coupe later released a statement apologising for his "unfortunate choice of song, from the musical 42nd Street", which he had seen the previous year. All rights reserved. [8], In January 2020 it was announced that Coupe would retire from his position at the end of May 2020, to be succeeded by Simon Roberts, the company's head of retail and operations. As of March 7, 2020, the company operated 882 Argos stores and 281 collection points, as well as 16 Habitat stores. [9][10], In October 2020, Coupe took a three-month appointment as head of COVID-19 infection testing at NHS Test and Trace, an outsourced agency created by the government in response to the COVID-19 pandemic. Sarah Butler. Posted: May 01, 2018 10:43 AM ET | Last Updated: May 1, 2018. The Labour MP Siobhain McDonagh, who has been campaigning to persuade Sainsbury’s to change its staff pay plans, said: “What self-respecting chief executive would accept £1m pay rise while simultaneously slashing the salaries of 9,000 of his most loyal and longstanding staff? [2][3], Coupe joined Sainsbury's in 2004. MEDIA-Sainsbury's, Asda among supermarkets refusing to enforce face mask rules in UK- The Telegraph, UK grocery sales growth slows as shoppers return to more normal routines - Kantar, Thailand says monkey labour "almost non-existent" after UK shop ban, Stop selling products that use monkey labour - UK PM's fiancee tells retailers, UK supermarkets not in line to deliver super profits, Sainsbury's sees online sales soar during lockdown, Convenience grocery stores outperform as Britons shop local -Nielsen. filmed singing one of the best known songs from the musical 42nd Street. The union Unite is considering legal action after the supermarket said it was pressing ahead with a plan to cut paid breaks, annual bonuses and premium pay for Sundays.

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