£1.4m pay packet for Associated British Foods FD
John Bason tops up £575,000 salary with £841,000 bonus
THE FD of Associated British Foods took home a pay packet topping £1.4m.
For the year to 18 September 2010, breakdowns showed John Bason (pictured above) was paid a base salary of £575,000.
His £841,000 bonus recognised the strong financial performance of the company, which counts clothing retailer Primark, curry sauce brand Patak’s and Silver Spoon sugar as part of its stable.
Associated British Foods said in its annual report: “The financial element of the annual bonus to be paid to executive directors in respect of the 2009/10 financial year is 130% of base salary.
“This reflects the strong financial performance of the group over the past year when adjusted operating profit and working capital both exceeded the maximum of the range set.”