Diageo CEO Paul Walsh and CFO Nick Rose win bonus hikes

Diageo CEO Paul Walsh

The total pay packet of Diageo chief executive Paul Walsh has climbed to
£3,178,000 from £1,706,000, while CFO Nick Rose’s increased to £1,872,000 from
£996,000.

The rise in their total remuneration was mainly due to the pair being awarded
a large increase to their annual bonuses.

Walsh and Rose, both accountants, were rewarded for guiding the drinks giant
through the tough economic conditions,
Diageo
announced in its annual report today.

In 2009, their annual bonuses were equal to 44% of their base salaries.

However in 2010, CEO Paul Walsh won an annual bonus equivalent to 171% of his
base salary, while Rose was awarded a bonus equal to 173% of his base salary.

Walsh and Rose’s base salaries of £1,155,000 and £673,000 respectively have
remained unchanged since October 2008.

Diageo’s remuneration committee said: “The committee determined that awards
under the annual incentive plan equivalent to 171% and 173% of [base] salary as
at 30 June 2010 for the chief executive and chief financial officer,
respectively, were appropriate given the resilient performance delivered in
challenging economic circumstances.”

Further reading:

Diageo’s
Nick Rose to step down