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Latest News

Top executives’ annual pay soars

by Personnel Today 29 Aug 2001
by Personnel Today 29 Aug 2001

Britain’s top executives enjoyed pay rises of 28 per cent
last year, six times more than the average wage increase.

More than 140 executives at FTSE 100 companies took home at
least £1 million last year, according to the Guardian’s annual survey of
directors’ pay by compensation consultants Inbucon.

Martin Read, chief executive of technology company Logica, was
the highest paid director with a take home package of more than £27 million,
largely the result of a performance related incentive deal.

Vodafone’s chief executive Sir Christopher Gent earned £9
million and Lord Simpson, Marconi’s chief executive, was paid £1 million, even
though 10,000 of the companies’ employees were made redundant.

The figures were based on the annual reports of all the
companies in the FTSE 100, including pay, bonuses, share options exercised and
long-term incentive plans of all executive directors.

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The survey shows that directors’ base salaries have increased
by 22 per cent and their average rewards total just under £1 million, compared
with average annual earnings of £17,880 for all UK full and part time workers.

By Katie Hawkins

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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