mike coupe net worth
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. [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. 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. 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. As of March 7, 2020, the company operated 882 Argos stores and 281 collection points, as well as 16 Habitat stores. 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. 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. The grocer’s latest annual report shows Coupe was correct – his annual pay rocketed by more than £1m last year, including a £427,000 annual bonus. He joined from the Royal Bank of Scotland where he was the Finance Director for Personal and Business Banking. After the first interview, during the transition to the next, his microphone remained switched on and he began singing 'We're in the Money'. [1], Coupe began his career at Unilever, where he became assistant brand manager for Flora margarine. While Mike Coupe sings how he is ‘in the money’, his most dedicated staff are being made to work for less.”. In recent years he has lived in the Holgate area of York but he frequently travels between London and Yorkshire. An accomplished musician, he was caught off-guard singing while waiting to be interviewed on ITV about a planned merger with Asda. [13] He was previously the fundraising president from 2012 to 2014. [14], In April 2018, Coupe took part in interviews in relation to a forthcoming merger between Sainsbury's and Walmart-owned UK subsidiary Asda. [1] He grew up in West Sussex. To attach any wider meaning to this innocent, personal moment is preposterous. The company operates various store formats, including convenience stores and supermarkets. Coupe later released a statement apologising for his "unfortunate choice of song, from the musical 42nd Street", which he had seen the previous year. "[16], When the merger failed to get approvals, he accused the Competition and Markets Authority of having "fundamentally moved the goalposts... changed the shape of the ball and chosen a completely different playing field" in its analysis. 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. The Sainsbury’s boss, who hopes the competition watchdog will approve the planned takeover of Asda within the next 18 months, was paid £943,428 in basic salary. The head of … Michael was appointed Chief Financial Officer of Sainsbury’s Bank in September 2018. Mike has vast retail industry experience in trading, strategy, marketing, digital and online as well as multi-site … Sarah Butler. 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. 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? ", telling BBC Radio 4: "This is just outrageous". 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%. 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. It is also involved in online grocery and general merchandise operations. [3] In January 2014, Sainsbury's then CEO Justin King announced Coupe as his successor, after stating that he would be leaving the role in June 2014. 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. 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. 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. [3] In 2010, he became responsible for the marketing, trading and online operations of the company. He appointed Chief Executive Officer on 9 July 2014, Mike has been a member of the Operating Board since October 2004. 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. It operates through three segments: Retail – Food, Retail – General Merchandise and Clothing, and Financial Services. [15] The video was widely shared and critiqued. © 2020 Guardian News & Media Limited or its affiliated companies. Mike Coupe’s annual wage rose by more than £1m last year as 9,000 shop staff face pay cut, Fri 8 Jun 2018 16.54 BST Coupe was born in Watford, Hertfordshire in 1960. Mike Coupe’s annual wage rose by more than £1m last year as 9,000 shop staff face pay cut. [4][3], Soon after Coupe's appointment, he announced a strategic review that aimed to address the challenges caused by a changing retail market. Posted: May 01, 2018 10:43 AM ET | Last Updated: May 1, 2018. David Potts at Morrisons earned £5.8m last year when he doubled his pay after earning a £3m long-term bonus. Michael Coupe Net Worth Michael Coupe biography. Available for everyone, funded by readers. 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. [2][3], Coupe joined Sainsbury's in 2004. [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. [1] Coupe received a bachelor's degree in Physics from the University of Birmingham in 1982. All rights reserved. Sainsbury’s has pledged to make up the difference in earnings for those who have lost out for the first 18 months and then review its policy in March 2020. 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. [5] In 2016 he led the takeover of Home Retail Group which included Argos and Habitat. First published on Fri 8 Jun 2018 16.21 BST. [12], Coupe became a life patron for GroceryAid in August 2015. [11], He married Jill Parkinson in Richmond upon Thames in May 1990, and they have two daughters. Sainsbury's issued a further statement: "We all know these songs stay in your head. Early life. Mr. Michael Andrew Coupe is no longer serves as Executive Director of the Company effective 7/2/2020. 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%.

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