Bloomberg News

U.K. FTSE 100 Executive Directors’ Average Pay Rises by 49%

October 28, 2011

Oct. 28 (Bloomberg) -- Individual earnings of executives on the boards of companies in the U.K.’s benchmark FTSE 100 Index rose 49 percent to an average of 2.7 million pounds ($4.35 million) in the past year, according to a report published today.

The increase was greater than the 44 percent gain that chief executive officers received, with their individual total earnings rising to 3.86 million pounds, London-based Incomes Data Services said on its website.

The average basic salary rise for directors was 3.2 percent. The additional compensation came from bonuses, benefits, long-term incentive plans and gains on the exercise of stock options.

“Britain’s economy may be struggling to return to pre- recession levels of output, but the same cannot be said of FTSE 100 directors’ remuneration,” Steve Tatton, editor of the report, said in a statement on the website.

“With closer scrutiny of boardroom pay expected in the future, remuneration committees will have to make sure that they are able to provide full and thorough justifications for the bonuses awarded.”

--Editors: Chris Peterson, James Kraus

To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.


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