Mike Coupe, the chief executive of Sainbury's, has received a 7% pay rise to £3.8m after the collapse of the Asda deal because the competition authorities blocked the tie-up over fears it would raise prices for consumers.
Laura Lambie, senior investment director at Investec Wealth and Investment told Radio 5 Live's Wake Up To Money: "His performance has to be tied into what he’s paid for. It looks on the face of it as if he’s being rewarded for failure which is not good".
A year ago, Mr Coupe apologised after being caught on camera singing "We're in the money". He was filmed singing the words to the show tune as he was waiting to be interviewed for ITV News.