BusinessCompany NewsDiageo CEO Paul Walsh and CFO Nick Rose win bonus hikes

Diageo CEO Paul Walsh and CFO Nick Rose win bonus hikes

Accountants Paul Walsh and Nick Rose awarded annual bonuses equal to 171% and 173% of their base salaries, compared to 44% the previous year

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

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor