Tesco PLC (LSE:TSCO) boss Ken Murphy became the highest-paid chief executive in the industry last year when his pay surged more than 120% to £9.9 million.
However, reports have indicated Asda co-owner Mohsin Issa is looking to beat Tesco, with plans to offer a new chief executive a £10 million package.
While the two supermarkets battle it out for the top spot, here is a look at some of the worst and best-paid bosses in the sector, according to research from the Retail Gazette.
Top paid
Following Murphy is Next PLC's (LSE:NXT) Simon Wolfson, who bagged £5.42 million, a 114% rise after his company underwent an impressive year of beating analysts' forecasts consistently.
The retailer achieved record profits of £918 million, allowing it to return £425 million to shareholders through dividends and buybacks.
Wolfson’s pay was approved by shareholders last month, but the company still faces pushback from workers disputing a £1-an-hour pay rise.
Also paid handsomely was Thierry Garnier, the chief executive of B&Q owner Kingfisher PLC (LSE:KGF), after his pay soared 158% to £5.07 million.
Back in March, the group was forced to warn profits were expected to fall in the 2025 financial year.
Other well-paid bosses include J Sainsbury PLC (LSE:SBRY) chief executive Simon Roberts and Marks and Spencer Group PLC's (LSE:MKS) Katie Bickerstaffe and Stuart Machin.
Low earners?
Matthew Moulding at THG PLC (LSE:THG) is the lowest-paid boss after he received £29,000 for the year, marking a 12% drop year-on-year.
Yet, Moulding won’t have been left completely shortchanged as he remains the top shareholder in the company he founded, boasting a nearly 15% stake in the e-commerce group.
Most of his £750,000 base salary was rejected as he decided to have THG donate to the Moulding Foundation, the charity aimed at helping social and economic inequality.
Julian Dunkerton, the boss and founder of Superdry PLC (LSE:SDRY), took home around £647,000 during the 2023 financial year, edging 2% lower compared to 2022.
Dunkerton’s finances may have been slightly strained in recent months after he pledged to help provide the clothing group with a £10 million lifeline to prevent it going into administration.
Shares soared more than 127% in Superdry after it was approved that Dunkerton could inject “a significant amount of his own money” as he underwrites a £10 million equity raise, all of which is part of the company's recovery plan.
Other low-paid bosses include The Works’ Gavin Peck, Pets at Home chief executive Lyssa McGowan and DFS’s Tim Stacey.