Darroch's pay goes Sky-high
BSkyB finance man's pay packet reaches nearly £1.5m after remuneration panel awards him bonus equal to 160% of his base salary
Jeremy Darroch was paid almost £1.5m this year,
BSkyB’s
annual report has disclosed.
The CFO’s package consisted of a salary of £525,000, a bonus payment of
£840,000, benefits of £17,103 and a pension payment amounting to £41,649.
As part of the seven-figure windfall, Darroch was awarded the maximum bonus
available by his paymasters – 160% of his salary – because BSkyB believed that
he had helped the company exceed its target ‘by a substantial margin’.
Compared with the previous financial year, Darroch received a fairly modest
5% rise pay rise, taking his total remuneration package to £1,423,752, up from
£1,324,958 in 2006.
Darroch also received 290,000 shares as part of the company’s long-term
incentive plan, taking his total number of outstanding share options in LTIP to
752,500.
BSkyB’s CFO is also a non-executive director of Marks & Spencer,
receiving £65,333 for the year to the end of June for that role.