BT chief Ian Livingston gets £9.1m but Tesco boss Philip Clarke misses bonus
Two of the FTSE’s biggest bosses have
banked rather different pay packets, it was revealed today.
BT chief executive Ian Livingston saw his package leap to almost £9.1 million against £7.7 million a year ago, while Tesco head Philip Clarke received no bonus for the second year running.
Livingston’s short-term pay and perks fell slightly on a year ago to £2.4 million as he picked up a basic salary of £925,000 and a cash bonus of £1.2 million, or 129 per cent of base salary.
He also pocketed shares worth £653,000 that vested after three years.
But his biggest windfall came from a long-term incentive share plan worth almost £6 million.
BT pointed out it was only the second time the ISP had paid out in full after a strong performance from the telecoms giant, whose shares have reached a six-year high.
Livingston’s 2012 package included an additional £1.2 million that he will receive in three years’ time, so long as he stays in the job.
Clarke pocketed £1.17 million, following the supermarket giant’s statutory pre-tax profit falling from £4 billion to £1.96 billion last year.
Tesco also announced that Tim Mason, the chief executive of its failed United States business, walked away from the job with nearly £3 million last year.
This came despite Fresh & Easy decimating the grocer’s bottom line.
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