Hutchings pay rises to pounds 1.6m

GREG HUTCHINGS, chairman of the Tomkins engineering to food conglomerate, enjoyed a pay rise of pounds 300,000 to pounds 1.64m in 1997/98, but cut out the group's donation to the Conservative Party, which reached pounds 52,000 in 1996-97. The 18 per cent pay rise was due to bonuses linked to earnings per share, dividends and the share price.

Earnings and dividends have risen every year since Hutchings took the helm in 1983. Hutchings' unrealised options soared by 1.27 million to 5.57 million and he cashed in options worth pounds 309,000, boosting his annual take to pounds 1.95m.