Sainsbury boss in massive pay crash

Adrian Holliday

Few of us like the idea of a massive pay cut. It helps if you're still paid several million to begin with though. Sainsbury's boss Justin King has had to take a massive pay fall thanks to his failure to reach underlying profits. His take-home pay - shares and cash - has crashed from £8m to just £3.2m in 2010. A £5m hit.