FDs face a fight over pay freezes
Finance chiefs at top UK firms are battling with their boards to secure their pay packets
The UK’s top FDs are in the middle of sensitive discussions about their pay
next year. Shell CFO Simon Henry has frozen his salary at the oil giant along
with chief executive Peter Voser and head of exploration Malcolm Brinded.
Discussions are ongoing with investors as to whether HSBC’s FD Douglas Flint
and chief executive Michael Geoghegan receive an increase. Barclays FD Chris
Lucas is to take his full remuneration despite the chief executive and chairman
waiving their bonuses.
One finance pro that might see a pay boost is Bernard Byrne at Allied Irish
Bank. He is promoted from group financial and commercial director to CFO. He
takes up the new post in May. Byrne, who qualified at PwC, has held senior
finance roles at IWP International and ESB International. He joined AIB in 2009.
Hotel chain Park Plaza Westminster Bridge London has enticed Karen Linforth
to the role of FD. Linforth was previously head of finance at the London Hilton
Metropole, and has held various positions at Liverpool John Lennon Airport. The
hotel opened its doors on 4 February this year.
Ruth Jenkins is recruited to director of finance at volunteer training
company CSV, returning after six years. Jenkins was last at CSV in 2004 when
she worked for two years as an executive assistant. She was most recently head
of finance at Homeless Link, and has a long track record in the volunteer
sector. She is a trustee for Peace Direct and director of GeneWatch. Jenkins
succeeds Chris Snelling who retires after 19 years.
Former PwC senior manager Judith Twentyman has taken up the role of FD at
Impetus Trust, which invests in charities and social enterprises that fight
economic disadvantage. She was at PwC for ten years, latterly as senior manager
of business assurance where she managed audits of FTSE 100 companies. She has
previously worked at chemicals group Laporte as group financial controller.