Safeway chief executive Carlos Criado-Perez will receive £1.67m as a compensation package for Morrisons’ £3bn takeover of the supermarket.
Criado-Perez told The Financial Times: "I am relieved it’s all over and very happy about the outcome.
He said that he was going to take a few months to recharge his batteries before taking up a new position.

The FT reported that Safeway’s chairman David Webster would receive £1.17m.

The Daily Telegraph said some 1,200 jobs would go at Safeway’s head office in Middlesex on completion of the takeover.