Kingfisher FD wins £300,000 relocation bonus
The finance director of struggling retailing group Kingfisher was paid a massive £330,607 to relocate offices, the company's annual report shows.
As the lobby against fat cat pay for failed executives reaches fever pitch, it has been revealed that Helen Weir received the enormous payout when her job at subsidiary B&Q was moved to Kingfisher’s head office in London.
Such bonuses, along with the revelation that Sir Geoff Mulcahy, Kingfisher’s chairman, will earn a final salary pension of £790,000 a year, has angered trade unions.
Data compiled by Income Data Services shows that, on average, executive pay has risen by 25%, the Independent reported.
Trade union body Amicus labelled such an increase ‘obscene’.