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. Next has slashed its chief executive's pay package by more than half after the retailer's profits fell for the first time in eight years. ... [Read full article on BBC ]
Tuesday 18th of April 2017 06:35:51 PM
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....Next boss Lord Wolfson has missed out on his annual bonus for the first time in 18 years amid tough times on the British high street. Wolfson’s total pay package dived by 58% to £1. ... [Read full article on Guardian ]
Tuesday 18th of April 2017 04:15:22 PM
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Latest Finance News related to Pay Package

Next slashes Wolfson's pay by half after profits slide image
Source : BBC [Read Article] Tuesday 18th of April 2017 06:35:51 PM
. Next has slashed its chief executive's pay package by more than half after the retailer's profits fell for the first time in eight years. ...
Next boss misses out on annual bonus for first time in 18 years image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:15:22 PM
....Next boss Lord Wolfson has missed out on his annual bonus for the first time in 18 years amid tough times on the British high street. Wolfson’s total pay package dived by 58% to £1. ...
Southern rail boss paid £495,000 image
Source : Guardian [Read Article] Monday 10th of April 2017 10:09:03 AM
....Andy McDonald, Labour’s transport spokesman, said the pay deal strengthened the party’s argument for renationalisation of the railways. “With season ticket prices shooting up at a rate way above the average increase in earnings, those at the top of Southern’s parent company, Govia Thameslink, clearly have no shame in dishing out extraordinarily large pay packages to themselves,” he said. ...
City regulators investigate Barclays boss Jes Staley image
Source : BBC [Read Article] Monday 10th of April 2017 06:32:38 AM
.... . • April 2017: The board announces it will formally reprimand Mr Staley and make a "significant" adjustment to his pay package, but adds that he retains its full confidence. ...
BP slashes 2016 pay for boss Dudley image
Source : BBC [Read Article] Thursday 6th of April 2017 10:29:51 AM
....BP has cut the annual pay award for its chief executive, Bob Dudley, by 40%. His pay package in 2016 was worth $11. ...
Reckitt Benckiser slashes boss's pay by 40% image
Source : BBC [Read Article] Friday 31st of March 2017 02:22:16 PM
. Reckitt Benckiser, the maker of Durex condoms and Gaviscon, has cut its chief executive's pay package by 39% after a safety scandal that engulfed its South Korean division. ...
GSK's Emma Walmsley steps into Andrew Witty's shoes image
Source : BBC [Read Article] Thursday 30th of March 2017 10:59:54 PM
....But she lacks any previous experience in a chief executive role and has no background in pharmaceuticals. Consequently she will start on a pay package 25% lower than her predecessor Andrew Witty, who retires on Friday. ...
Pearson boss sees pay boost despite firm's struggles image
Source : BBC [Read Article] Friday 24th of March 2017 04:28:38 PM
. The boss of publisher Pearson saw his pay package rise 20% last year despite the firm sliding to a record loss. ...
Crest Nicholson to pay bonuses despite shareholder revolt image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:10:32 PM
....It is rare for shareholders to reject a company’s remuneration report. Last year, shareholders voted against a £14m pay package for the chief executive of BP and the remuneration report of Smith & Nephew, the medical equipment group. ...
Bosses' incomes are 386 times higher than Living Wage image
Source : BBC [Read Article] Wednesday 22nd of March 2017 01:21:15 PM
.... . One third of investors in WPP - the world's largest advertising group - failed to back Sir Martin's pay package at its annual meeting. ...
Executive pay: all eyes on boardroom as AGM season looms  | Chris Cummings image
.... This binding vote is a very powerful tool which gives investors – those firms who ultimately look after your and my pension or savings – the power to hold companies to account on what they pay their senior executives. This year those very same companies will have yet again to seek approval from shareholders for their executives’ pay packages for the next three years, so they can’t tinker with it each year. ...
Pay boosts for Shell and Rolls-Royce bosses despite profits slide image
....The chief executives of UK titans Shell and Rolls-Royce will receive pay boosts despite profits falling last year. Shell chief executive Ben van Beurden will see his pay package rise 54% to 8. ...
Sir Martin Sorrell's £42m payout takes earnings to £210m in five years image
....The pay of WPP’s Sorrell has been a flashpoint in the past. In 2012 - during what became known as the shareholder spring - nearly 60% of investors rejected his annual pay package for the previous year. ...
Ex-IMF chief Rodrigo Rato gets 4.5 years for embezzlement image
Source : BBC [Read Article] Thursday 23rd of February 2017 04:05:42 PM
....About 200,000 small-scale savers - who had been persuaded to convert their savings into shares before Bankia's flotation in 2011 - lost their money. During the trial, Rato argued that the corporate credit cards were part of his pay package. ...
Ex-John Lewis boss: 'The Tories are the insurgents in the West Midlands' image
Source : Guardian [Read Article] Thursday 23rd of February 2017 07:00:00 AM
.... One of the reasons Street said he was confident about winning the election was because lifelong Labour voters had told him they would vote for him. Despite this confidence, there is still a risk that he loses, having left one of the top jobs in British business – and an annual pay package of about £1m – for nothing. ...
Nurofen maker acquires US baby food and Choco Milk company image
Source : Guardian [Read Article] Friday 10th of February 2017 09:57:31 AM
....The company, founded in 1905 by Edward Mead Johnson, later passed into the ownership of US drugmaker Bristol-Myers Squibb and floated on the stock market when it was spun off eight years ago. The acquisition comes after a tough year for Reckitt that saw slowing sales, a toxic disinfectant scandal in South Korea and a fine in Australia, as well as shareholder anger over Kapoor’s £23m pay package. ...
Thomas Cook cuts boss's payout after shareholders revolt image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:37:47 PM
....At last year’s AGM, Thomas Cook also suffered a shareholder revolt over executive pay, with a quarter of investors voting against the remuneration report. Fankhauser’s pay package fell to £1. ...
Co-op CEO Richard Pennycook to step down image
Source : Guardian [Read Article] Tuesday 7th of February 2017 04:13:24 PM
.... He joined the Co-op as interim finance director in the summer of 2013, but stepped up in 2014 to lead the group after Euan Sutherland quit, following the leaking of details of his £6. 6m two-year pay package to the Observer. ...
UK home to 80% of top-earning European bankers image
Source : Guardian [Read Article] Thursday 2nd of February 2017 11:00:28 AM
....Some 2,927 of the UK’s high earners received between €1m and €2m in salary and bonuses. Stefan Stern, director of the High Pay Centre, said: “These figures reveal a closed world where massive pay packages are considered normal, including in parts of the asset management industry. ...
Does the Imperial revolt herald a new health warning for executive greed? image
Source : Guardian [Read Article] Thursday 26th of January 2017 01:29:10 PM
. Alison Cooper, chief executive of Imperial Brands, will presumably now quit her employer of 17 years, to be followed out of the fags factory by an unhappy crew of fellow executives who have lost the chance to earn (even) bigger pay packages. ...
Is the City of London going to hell in a Brexit handcart? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:41:32 PM
....That is why Imperial Brands, as Imperial Tobacco calls itself these days, will be alarmed that ISS has come out against its proposed pay policy. The fag firm had been delighted that Glass Lewis, another proxy agency, supported the proposed hike in chief executive Alison Cooper’s maximum pay package to £8. ...
Rolls-Royce’s SFO settlement is big, ugly and serious image
Source : Guardian [Read Article] Monday 16th of January 2017 07:24:51 PM
.... She owns shares in Imperial worth £6. 5m, accumulated in most part through the incentive-based components of her pay package. ...
World's largest fund manager demands cuts to executive pay and bonuses image
Source : Guardian [Read Article] Sunday 15th of January 2017 01:39:14 PM
....The letter to bosses, first reported in the Sunday Times, echoes investor rebellions from 2016. Last April, almost 60% of shareholders voted against a £14m pay package for the chief executive of BP in a year in which it reported record losses, cut thousands of jobs and froze its employees’ pay. ...
Cause for alarm at Next as Wolfson's policy shift betrays his pessimism image
Source : Guardian [Read Article] Wednesday 4th of January 2017 02:20:37 PM
.... The accelerated vesting of his stock options is designed to ensure he cuts his ties with ExxonMobil, we are told. Really? If someone had just paid you $180m, in addition to a decade of multimillion regular pay packages, could you say you felt not even a twinge of loyalty?. ...
Rex Tillerson cuts ties with Exxon Mobil via $180m retirement package image
Source : Guardian [Read Article] Wednesday 4th of January 2017 02:16:38 PM
.... Tillerson’s confirmation hearings begin next week. If confirmed, Tillerson will surrender all unpaid stock that was part of his pay package, more than 2m shares. ...
Deck the halls with share options: today is Fat Cat Wednesday | Anne Perkins image
.... But if she did, she could take as ammunition a blistering report for the ethical investment organisation CFA UK that was published last week. It showed that in 2014 chief executives took home a median pay package just short of £2m. ...
RBS: Small shareholders demand a say in bank bosses' pay image
Source : BBC [Read Article] Friday 30th of December 2016 12:03:50 AM
....The way companies are managed - and how much bosses are paid - has been been under particular scrutiny this year following the collapse and loss of 11,000 jobs at BHS and the revelations about pay and working conditions at Sports Direct. Chief executives of FTSE 100 companies have a median pay package of £4. ...
'Negligible' link between executive pay and firm's performance, says study image
Source : Guardian [Read Article] Tuesday 27th of December 2016 05:56:46 PM
....The link between executive pay and company performance is negligible, according to a study that will fuel arguments for reform of corporate wage packets. The chief executives of Britain’s leading 350 companies each took home a median pay package of £1. ...
Spread betting firms end winning run as FCA clamps down image
Source : Guardian [Read Article] Tuesday 6th of December 2016 07:14:57 PM
.... Drax would look less like a hard-luck story and more like a solid business again. Defending Sir Martin Sorrell’s £70m pay package is not easy, but Sir John Hood, chair of WPP’s remuneration committee, could surely do better than pleading that the fixed salary component is just like any other chief executive’s. ...
Sorrell not on 'superstar' salary, WPP pay chief tells MPs image
Source : Guardian [Read Article] Tuesday 6th of December 2016 03:39:29 PM
. The chair of WPP’s pay committee has told MPs that Sir Martin Sorrell is not on a “superstar” salary, months after the chief executive faced a shareholder revolt over his £70m pay package for last year. ...
Mitsubishi wants to triple executives' annual pay image
Source : BBC [Read Article] Thursday 1st of December 2016 09:59:02 AM
. Mitsubishi Motors is proposing higher salary caps that could triple the annual pay packages of its top executives. ...
The Guardian view on British business: stop stroking the fat cats | Editorial image
....As the High Pay Centre points out, the average FTSE 100 CEO is now earning as much as 147 of their own employees. The average CEO pay package comes in at £5. ...
OK, no workers in the boardroom: but May must be strong on executive pay image
Source : Guardian [Read Article] Sunday 27th of November 2016 07:00:53 AM
.... Shareholder rebellions are rare; they would probably be rarer still under a binding regime. And, come on, what is the logic of an advisory set-up where “no” can mean “yes”? Almost 60% of BP shareholders voted against a £14m pay package for the chief executive this year, but Bob Dudley still collected the lot (indeed, had already done so). ...
Executive pay: Companies could be forced to reveal pay gap image
Source : BBC [Read Article] Sunday 27th of November 2016 03:23:57 AM
.... . Other proposals include improving the effectiveness of remuneration committees and votes on pay packages. ...
MPs' corporate governance inquiry: what are the key issues? image
Source : Guardian [Read Article] Monday 14th of November 2016 02:05:19 PM
.... The UK Shareholders’ Association, which represents private investors, suggested any bonuses should be limited to 50% of salary. The TUC also suggests bonuses should be 10% of the total pay package. ...
Weekly UK earnings rose 2% last year in biggest increase since crash image
Source : Guardian [Read Article] Wednesday 26th of October 2016 10:12:49 AM
....The TUC said it was concerned that 362,000 people were paid below the minimum wage in the year to April – a 73% increase from the previous year. The ONS said the figure was not comparable with 2015 and also noted that there were legal exemptions, such as for employees who get accommodation as part of their pay package, which can be offset against their pay rate. ...
Executive pay to be investigated by MPs image
Source : BBC [Read Article] Friday 16th of September 2016 08:27:15 AM
....Under current rules shareholder votes are only binding every three years and, at BP, the next binding vote is in 2017. Earlier this year, WPP chief executive Sir Martin Sorrell was forced to defend his pay package, worth up to £70m. ...
Is employment law fit for the gig economy? image
Source : Guardian [Read Article] Tuesday 13th of September 2016 06:00:51 AM
. There’s an uprising within the gig economy: making a stand over pay packages is catching on. ...
TUC calls for curbs to 'stratospheric' executive pay image
Source : BBC [Read Article] Sunday 11th of September 2016 09:00:20 AM
....Meanwhile, the TUC's general secretary Frances O'Grady, called on the prime minister to "deliver on her promise to put workers on company boards". She added: "This would inject a much-needed dose of reality into boardrooms and help put the brakes on the multimillion pay packages that have damaged the reputation of corporate Britain. ...
Big cuts in store for Royal Mail and Post Office workers' pensions image
Source : Guardian [Read Article] Wednesday 10th of August 2016 05:41:48 PM
....1% of salary, and use the surplus in the scheme to finance the gap. Royal Mail reported a 5% rise in profits to £742m in the UK in the year to March 2016 and awarded its chief executive, Moya Greene, an annual pay package of £1. ...
Executive pay image
Source : BBC [Read Article] Monday 8th of August 2016 03:51:55 PM
....3m, becoming the first million-pound-a-year-businessman in the process. Since then, we have seen a parade of ever-higher pay packages for supposedly top executives. ...
FTSE 100 bosses earn average of £5.5m a year, report says image
Source : BBC [Read Article] Sunday 7th of August 2016 11:17:27 PM
.... . Stefan Stern, director of the High Pay Centre, said the think tank's latest report showed there was "no end yet in sight" to the rise of FTSE 100 pay packages, adding that he was delighted by Number 10's interest in reforming the remuneration system. ...

Goddard Inquiry: New Zealand judge becomes Britain’s highest paid civil servant with £5m pay package
 image
....It means that it will have taken two years for the Independent Inquiry into Child Sex Abuse, established by the then Home Secretary Theresa May in March 2015, to hold substantial public hearings into any of 13 separate strands it is currently investigating. Dame Justice Goddard was presumably in a decent bargaining position to negotiate her pay package when the Home Office invited her to become the inquiry’s chair. ...
Theresa May vows to put Conservatives 'at service' of working people image
....The coalition government introduced a law forcing companies to hold legally binding votes on future pay policies every three years, on top of the annual non-binding vote on the packages contained in that year's remuneration report. Mrs May's plans would involve binding votes on policy and specific pay packages each year. ...
B&Q to face pressure from campaign groups over pay practices image
Source : Guardian [Read Article] Tuesday 14th of June 2016 04:54:22 PM
....70. After more than 136,000 people signed a petition against the retailer’s planned cuts to employee benefits, B&Q offered workers two years’ compensation and further negotiations over their pay packages. ...
City news: Boohoo.com, WPP, Dominos Pizza and Gala Coral image
Source : Daily Express [Read Article] Wednesday 8th of June 2016 10:51:00 PM
.... Boohoo now expects sales growth this year to rise from 25 per cent to as much as 30 per cent. A THIRD of WPP investors refused to back the £70million pay package handed to its CEO Sir Martin Sorrell. ...
Commons inquiry reveals machismo of retail wars image
Source : Guardian [Read Article] Wednesday 8th of June 2016 06:23:34 PM
.... Second, announce how much he is prepared to contribute to repair the hole in the pension fund; the moral obligation to cough up looks as plain as it did on the day of BHS’s collapse. Defending Sir Martin Sorrell’s indefensible £70m pay package is not easy, but WPP chairman Roberto Quarta could surely have done better than this watery line delivered to one protesting shareholder at Wednesday’s annual meeting: “Rest assured we hear your comments and your voice today and certainly we will take them into account as we … consult at the end of the year. ...
Sir Martin Sorrell at sharp end of investor revolt at WPP AGM image
Source : Guardian [Read Article] Wednesday 8th of June 2016 08:19:14 AM
. Sir Martin Sorrell and the board of WPP faced a barrage of criticism at their annual general meeting after a third of shareholders opposed the £70m pay package handed to Sorrell, chief executive of the world’s biggest advertising company. ...
Royal Mail's Moya Greene reaps another £1.5m pay package image
Source : Guardian [Read Article] Friday 3rd of June 2016 06:00:45 PM
. Royal Mail has awarded its chief executive Moya Greene an annual pay package of £1. ...
Home Retail boss in line for £5m windfall after a Sainsbury's takeover image
.... He is also likely to receive a further £250,000 in lieu of benefits and pension payments. In the year to the end of February 2016, Walden received a total pay package of £1. ...
Co-op sells crematoria for £43m to boost funeral homes business image
Source : Guardian [Read Article] Tuesday 31st of May 2016 10:03:17 AM
....5bn black hole was discovered at its banking business. The bank’s former chairman, Methodist minister Paul Flowers, was engulfed in a sex and drugs scandal, and the Co-op group’s chief executive resigned after the size of his pay package – £6. ...
Alliance Trust confirms RIT made approach about £5bn merger image
Source : Guardian [Read Article] Monday 30th of May 2016 06:16:12 PM
....Elliott had also criticised Garrett-Cox’s £1. 3m pay package. ...
Co-op hopes to leave the past behind with revival of its classic 60s look image
....There was a £1. 5bn black hole in the banking business; the division’s former chairman, Methodist minister Paul Flowers, was engulfed in a very public sex and drugs scandal; and the group’s chief executive resigned after the size of his pay package – £6. ...
VW sales rise for first time since emissions scandal image
Source : Guardian [Read Article] Friday 13th of May 2016 08:57:14 AM
....1%. Related: VW boss who quit over emissions scandal gets £13m pay package. ...
ITV revenues rise 14% to £755m but it warns over Brexit fears image
Source : Guardian [Read Article] Thursday 12th of May 2016 06:54:38 AM
....Non-advertising revenue rose 34% to £428m, and ITV said it expects to deliver profit growth in the first half of the year. Related: ITN chief's pay package soars to £1. ...
The trials of a 2016 job: why so many of us are unhappy at work | Peter Fleming image
.... From this perspective a bitter sense of injustice can grow. For example, even those lucky enough to get a whopping 5% pay increase this year (great in absolute terms) will still feel dissatisfied when they see BP CEO Bob Dudley’s sickening £14m pay package. ...
The trials of a 2016 job: why so many of us are unhappy at work | Peter Fleming image
.... From this perspective a bitter sense of injustice can grow. For example, even those lucky enough to get a whopping 5% pay increase this year (great in absolute terms) will still feel dissatisfied when they see BP CEO Bob Dudley’s sickening £14m pay package. ...
Morrisons chief executive given £1m bonus image
Source : Guardian [Read Article] Friday 6th of May 2016 02:16:11 PM
.... He also got £187,000 in lieu of a pension. The pay package is slightly more than his predecessor Dalton Philips who earned £2. ...
Three more companies face shareholder wrath over executive pay image
Source : Guardian [Read Article] Thursday 5th of May 2016 04:54:20 PM
....At Reckitt, known for products such as Dettol, Nurofen and Durex, nearly one in four shareholders opposed the group’s pay policy that covers the next three years, and abstentions took the protest vote to 29%. Almost 18% voted against the remuneration report for the past year, which included a £23m pay package for the chief executive, Rakesh Kapoor. ...
HSBC ‘to post profits plunge’ image
Source : Daily Express [Read Article] Tuesday 3rd of May 2016 08:00:00 AM
....Last month, Barclays also saw profits tumble by a quarter in the first three months of the year to £793million after it was hit by tough trading in its investment banking arm. HSBC management comfortably survived a shareholder vote over executive pay earlier this month, which passed a pay package of £7. ...
City news: Restaurant Group, WPP, British Airways and AstraZeneca image
Source : Daily Express [Read Article] Saturday 30th of April 2016 12:01:00 AM
....WPP has begun identifying potential candidates to eventually succeed founder Sir Martin Sorrell as it defended his £70. 4million pay package. ...
WPP chief Martin Sorrell defends £70m pay deal image
Source : Guardian [Read Article] Thursday 28th of April 2016 07:42:02 AM
. WPP founder Sir Martin Sorrell has again defended his bumper pay package, saying shareholders had previously approved the advertising company’s incentive plans by a substantial margin. ...
Oil prices puts BP in the red image
Source : Daily Express [Read Article] Wednesday 27th of April 2016 07:56:00 AM
.... . Chief executive Bob Dudley,whose controversial £14million annual pay package was opposed by nearly 60 per cent of BP shareholders last week, said the group’s efforts to reset its costs to a low oil price environment – Brent crude traded at an average $34-a-barrel in the first quarter compared with $54 a year ago – were “delivering results”. ...
BP prepares deeper spending cuts as profits fall 80% image
Source : Guardian [Read Article] Tuesday 26th of April 2016 08:24:43 AM
....BP cut spending three times in 2015 to $19bn as it faced the worst downturn in the oil sector for at least three decades. Despite reporting record losses, cutting thousands of jobs, and freezing employees’ pay, the company’s chief executive, Bob Dudley, was awarded a £14m pay package for last year. ...
Pay ratio between bosses and employees will be '2016's hot topic' image
Source : Guardian [Read Article] Sunday 24th of April 2016 11:01:30 PM
.... Advertising company WPP is also preparing to publish its annual report, which is expected to show a pay deal of around £70m for its chief executive Sir Martin Sorrell. Next month Rakesh Kapoor, the boss of Cillit Bang maker Reckitt Benckiser, is due to have his £23m pay package rejected by at least some shareholder groups. ...
Blue chip CEOs in the firing line image
Source : Daily Express [Read Article] Sunday 24th of April 2016 02:55:00 PM
....”. The industry body said it would consider toughening its annual corporate governance and voting guidelines to its members if the trend of controversial pay packages continues throughout the AGM season. ...
Times are hard for bankers – but they did nearly bankrupt the planet image
....After the revolts over pay at oil giant BP, medical equipment group Smith & Nephew and miner Anglo American, this week the City’s troublemakers are looking forward to fixtures at pharmaceutical groups Shire and AstraZeneca, plus the fund manager Schroders, where scraps are almost guaranteed for different reasons. First, Shire and Astra, where Royal London Asset Management, which holds shares in each, will vote against the pay packages at both companies. ...
Customers’ reluctance to try newcomers props up the banking giants image
Source : Guardian [Read Article] Sunday 24th of April 2016 07:00:11 AM
.... It was either that or be crushed like the French aristocracy were to be in the 1789 revolution. After BP’s recent AGM, when shareholders registered a protest vote against a £14m pay package for boss Bob Dudley, Walker said British boardrooms were “in the last-chance saloon”. ...
HSBC acts in pay policy row image
Source : Daily Express [Read Article] Friday 22nd of April 2016 10:27:00 PM
....The proposals were backed by 96 per cent of shareholders, who gave overwhelming support for chief executive Stuart Gulliver’s £7. 3milion pay package for 2015, down from £7. ...
Lloyds to axe 625 jobs and shut 21 branches amid cost-cutting image
Source : Guardian [Read Article] Thursday 21st of April 2016 11:32:50 AM
....Related: Lloyds hands chief executive £8. 5m pay package. ...
Anglo American braces for shareholder revolt over pay image
Source : Guardian [Read Article] Thursday 21st of April 2016 09:33:46 AM
....The mining giant is a braced for a rebellion at its annual meeting on Thursday afternoon, with shareholders expected to oppose the £3. 4m pay package for the chief executive, Mark Cutifani. ...
The price of failure: Yahoo's Marissa Mayer could get $59m buyout image
Source : Guardian [Read Article] Tuesday 19th of April 2016 11:00:22 AM
....Mayer’s performance pay and vested options peaked in 2014 at $48m (double the previous year’s salary). Yahoo has yet to finalise this year’s pay package so the final figure is yet to be determined, but few are expecting her to take home just her base salary, in excess of $2m. ...

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