BT chief Ian Livingston gets £9.1m but Tesco boss Philip Clarke misses bonus


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The Independent Online

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.