CEOs’ pay returns to all-time high June 2010
Posted date: 1 June 2010
Chief Executives’ pay has increased by an average of six per cent in the past year, according to one of the most comprehensive assessments of UK companies in the FTSE 100.
The results of the Pay Report, an exclusive analysis for the Sunday Telegraph, the Daily Telegraph and Telegraph.co.uk, showed that pay levels have returned to all-time highs due to a rebound in share prices during the past 12 months.
In the report, Bart Becht, Chief Executive of consumer goods company Reckitt Benckiser, is revealed as the FTSE 350’s best-paid Chief Executive. In 2009 he took home £92.6 million.
In second place is Tony Pidgley, Chief Executive of FTSE 250 housebuilder Berkeley Group, whose pay package was £36.4 million. Mick Davis, Chief Executive of miner Xstrata, came in third with a payout of £25.5 million.
The top five also included Frank Chapman, Head of gas company BG Group, who earnt £23 million and Bob Diamond, the Barclays Capital boss who took home £18 million.
The data collected in the report indicates a greater focus on long-term performance as FTSE companies have cut salaries and cash bonuses and concentrated on share awards.
The analysis shows salaries for FTSE 100 chief executives fell by an average of one per cent in 2009. However, cash bonuses and benefits were around 28 per cent lower.
Share-based incentives also rose by more than 30 per cent, leaving total compensation for CEOs six per cent higher at an average of £3.76 million.
6% is the average rise in chief executives’ pay
- June 2010