FTSE 100 chief executives received a maximum bonus of 130% of their salaries, according to the business consultancy KPMG’s Survey of Directors’ Compensation 2006.
Their target bonuses were 75%, and the actual bonuses for FTSE 100 CEOs in 2005 reached 108%. Finance directors in FTSE 100 companies also fared well, with a maximum bonus of 111% of their salaries and a target bonus of 66%. Finance directors’ actual bonuses in 2005 reached 92%.
Other executive directors received a maximum bonus of 100% and a target bonus of 75% of their salary. Actual bonuses for other executive directors in 2005 reached 91%.
The most common performance measure for all board directors was personal performance.
FTSE 100 directors also cashed in with deferred bonuses, performance share plans and share option plans.