Bosses gain 20 per cent rise in pay and pensions

The
average value of pay and pensions deals for the heads of the top 100 British
companies has risen by more than 20 per cent in the past year, according to a
survey by The Independent.

By
comparison, the newspaper’s annual survey of executive pay shows that the
average wage of the British worker has risen by just 4.3 per cent.

The
‘worst-value’ boss is Rolf Stahel, ex-chief of Shire Pharmaceuticals. He
received a pay-off that included a one-off pension contribution of £4.3m, even
though shareholder investments plummeted by 50 per cent in the past three
years.

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Other
villains whose pay outstrips the average while returns to shareholders are in
the red, include Michael Bailey, CEO of Compass catering group, and Philip
Watts, who left Shell after the scandal over false estimates of oil reserves.

By Michael Millar