The Independent reports that Sir Peter Davis, the ousted as chairman of Sainsbury's, has instructed his lawyers in a bid to hang onto his £2.4 million bonus.
Richard Ratner, a retail analyst at stockbrokers Seymour Pierce, said: "Sir Peter Davis has stepped down as chairman of Sainsbury's following pressure from shareholders over his £2.4m bonus payment at a time when profitability declined from £640m to £616m.
"Moreover, apart from £100,000 to Roger Matthews [Sainsbury's finance director] no one else in management received a bonus. This must have done wonders for management morale in the company. It was almost like Animal Farm when the goodies went to Napoleon and the other animals got nothing."