The CEO of UK catering distribution giant Brake Bros, Ian Player, has picked up a cash bonus worth 6% of his last year’s salary – meaning his total remuneration reached a cool £314,000 (US$457,242).
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Market watchers expressed surprise that Player’s package included the £17,000 bonus, and £5,000 from participation in profit share, when the company had issued several profit warnings during the year.
The company defended the wage hike however, stating that there was a need to balance fixed and variable elements when calculating the packages, and that bonuses were dependent on meeting “challenging targets for individual and divisional performance and company pre-tax profit”.
According to the group’s annual report, finance director Len Hughes received a cash bonus worth 8% of his salary, taking his total remuneration to £232,000.
For the last full year, Brake Bros posted underlying pre-tax profit up just £1m year on year.
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By GlobalData
