Tomkins FD sees pay rise by 25%
Turnovers dips but FD's pay rises at engineering group Tomkins.
Ken Lever, finance director at Tomkins, the engineering group that saw its turnover dip during 2004, has seen his pay increase by almost 25% or £185,000, the company’s annual report and accounts reveal.
Lever’s total package for the year 1 January 2005 was £918,000 compared with £733,000 the previous year. His new pay level would place him just outside the pay levels of top 10 FTSE100 FDs.
Lever’s pay boost pipped that of his chief executive’s. James Nicol’s pay rose by £151,000 to £2.642m.
According to the annual FD salary survey of Accountany Age‘s sister publication Financial Director, the highest FD pay in the FTSE100 was Man Group’s Peter Clarke with £2.4m, while the number 10 spot was held by Abbey National’s Stephen Hester with £975,000.
In Tomkins’ results published in February turnover fell from £3.150bn to £2.980bn.
Lever joined Tomkins in 1999 and was a partner at Arthur Andersen.