FD notches 304% pay rise
Sainsbury's group finance director Roger Matthews last year received the biggest overall increase in remuneration of any FD in the FTSE-100.
Matthews’ total remuneration for the year 2000 reached Pounds 565,000 – an increase of 304%, according to a survey in The Guardian newspaper.
While he pipped Vodafone’s Ken Hydon in terms of increase, his total package was dwarfed by the telecom FD’s wedge. ACCA-qualified Hydon, who has considerable experience as a board member since 1985, took home more than Pounds 3m, a rise of 298%. His position among the FTSEs top earners could be limited though as his sonic pay performance was swelled by a bonus resulting from the Pounds 113bn takeover of German giant Mannesmann.
Hays’ Neil McLachlan also saw his remuneration bulge; he enjoyed a 284% increase to Pounds 234,000.