The chief executive of Majestic Wine Rowan Gormley has said that he will not be accepting his £7 million bonus and instead requested his potential award be redistributed to staff.

The retailer’s 493 staff, from store manager level up, will now have a chance to gain over £14,000 each in performance-related bonuses.

Rowan Gormley, Chief Executive commented: "We are committed to delivering shareholder value by doing the right thing for our people, customers and suppliers. Today's share awards show that: a) We're serious about aligning our people and our shareholders' interests. b) We are committed to delivering our transformation plan. c) We are focused on investing in our people to reward the delivery of sustainable growth in the whole group"