Trio of FTSE bosses cash in on pay and bonus jackpots
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UPDATED:
20:50 GMT, 29 March 2012
A trio of FTSE company bosses have cashed in on pay and bonus jackpots following a string of huge payouts earlier this week.
Adam Crozier, the boss of ITV, received a package of more than 3m for 2011, a year when the company turned in a 14 per cent increase in pre-tax profits to 327m.
He took home a basic salary and benefits of 818,000 and received a pension contribution of 72,000, plus a bonus of 1.268m for the year, half of it in cash.
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Money, money, money: The three cashed in with pay and share bonus awards
In addition, he received a
performance-linked award of shares worth just over 900,000, which
matures from March 2014 provided he hits his targets.
Crozier also saw the fruits of share
awards granted in 2010 worth just under 340,000 at yesterday’s price,
but he is understood to have held on to most of them and has only sold
enough to meet his tax bill.
Royal rat-catching boss Alan Brown,
who was parachuted into the pest control business Rentokil in a bid to
turn it around, saw his rewards increase to 991,000 for 2011.
His basic pay and benefits was
797,000 and he received pension provisions of 194,000 during 2011.
However, he did not receive a bonus because the business did not hit
targets.
Last year Brown became eligible to
cash in 746,267 from share awards issued in previous years, calculated
at yesterday’s closing price. He was also granted a performance-linked
share award worth an estimated 1.7m.
Full details of Pru boss Tidjane
Thiam’s generous pay and perks will be announced today when the insurer
issues its annual report. However, Sky News reports suggested he will be
handed about 2.8m.
He may also receive a long-term
incentive award similar to last year’s that could be worth 3.75m at
today’s prices if he hits performance targets.
Thiam is in line for an award of about 1.9m of shares under a scheme dating back to 2009.
He is unlikely to be the Pru’s highest
paid director. This distinction is likely to go to Michael McLintock,
who runs Pru’s fund management arm.
The insurer’s shares have risen just
under 3 per cent over the past 12 months. Its 2011 profits rose strongly
by 33 per cent to 1.9bn.
These awards are likely to be
overshadowed by payouts expected to be revealed today at Anglo-Dutch
consumer goods giant Reckitt Benckiser.
It will disclose the final payments to
former chief executive Bart Becht, who was the highest paid boss in the
FTSE 100 in 2010 with a 90m reward, much of which he donated to
charity.
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