Help Sitemap Home Skip Navigation Contact Us Disability Statement

Endinburgh Council
 
 
Monday, 2nd November 2009 Change Date Latest Issue

Average boardroom pay jumps 12% to hit £2.6m

Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image
Click on thumbnail to view image

Published Date: 01 October 2007
TOP boardroom executives are now earning more than 100 times the average UK salary, a new pay report revealed today.
The average total remuneration for a chief executive of a FTSE 100 firm has increased by 12 per cent in the past year, four times the average rise in earnings, to over £2.6m million, helped by hefty bonuses.

One of the UK's biggest earners was Gi
les Thorley, chief executive of Scotland's biggest pub group, Punch Taverns, who earned a pay package worth £11m.

Of those still in position, income rose 16 per cent, steeply ahead of last year's nine per cent rise, according to the figures by accountancy firm KPMG.

Even chief executives at the smaller FTSE 250 firms could expect a total package of just over £1m, up from £878,000 in 2006.

The UK's biggest corporate earner was Bob Diamond of Barclays Capital, who earned £22.9m last year. Bart Brecht, chief executive of Reckitt Benckiser, received £22m, while Lord Browne, formerly of BP, took home £11m.

Mary Carter, a partner at KPMG, said:

"Will 2008 be the year in which more companies put their heads above the parapet and implement bold remuneration strategies that really encourage stellar performance?"

The FTSE-100 company directors earned combined earnings worth £515m last year, enough to exceed the gross domestic product of some small countries.

It is expected boardroom pay will see much smaller increases in the next 12 months, due to concerns about financial markets.



Page 1 of 1

  • Last Updated: 01 October 2007 9:49 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
 

Comment on this Story

 

In order to post comments you must Register or Sign In

 
 
 
  

 
 


Sister Newspapers:
Press Complaints Commission

This website and its associated newspaper adheres to the Press Complaints Commission’s Code of Practice. If you have a complaint about editorial content which relates to inaccuracy or intrusion, then contact the Editor by clicking here.

If you remain dissatisfied with the response provided then you can contact the PCC by clicking here.