Tesco CEO Turns Down $600K Bonus
You'd think on the heels of Tesco's decision to cut performance bonuses for its store managers there really wasn't anything else the chain's CEO could do but turn down his own. But the relative rarity of top executives doing the right thing has made Philip Clarke's decision to pass on $587,000 a big news item. "I decided at the beginning of the year that I would decline my annual bonus for 2012," Clarke said in a statement. "I wasn't satisfied with the performance in the U.K. and I won't take the bonus. I'm confident that we're tackling the right issues."