Capital Radio's Mansfield paid 28% rise despite fall in listeners
Friday 26 December 2003
David Mansfield, the chief executive of Capital Radio, enjoyed a 28 per cent pay rise in 2003 despite the company losing its slot as London's number one radio station.
Mr Mansfield was paid £487,000 in 2003, compared with £381,000 in 2002, according to the company's annual report and accounts posted on its website.
His total pay included bonus and benefits in kind worth £104,000. Capital announced in November that annual turnover had fallen to £115.3m from £120m the year before, while profits fell to £22.8m from £27.8m.
During the year Capital also lost its talismanic breakfast show DJ, Chris Tarrant, who has been replaced by Johnny Vaughan. Mr Mansfield has also put in place new management at Capital's London station to boost its fortunes.
However, in many people's minds a more significant development during the year was the fact that Heart, the FM station owned by Chrysalis, overtook Capital as the leading station in London.
According to Rajar audience figures for the last quarter, Capital's audience share slipped to 7 per cent from 8.9 per cent while Heart's rose from 6.7 per cent to 7.2 per cent.
Capital said Mr Mansfield's pay rise was partly the result of a study it commissioned by Monks, the pay consultants, which found that Capital's boardroom pay was out of line with its peer group in the media sector.
As well as an increase in his basic salary, the company said Mr Mansfield was entitled to higher remuneration under the terms of his incentive scheme.
A spokeswoman for Capital also pointed out that Mr Mansfield had seen his pay fall in 2001 to £373,000 from £710,000 in 2000. She said Mr Mansfield had not taken a bonus in 2001 or 2002 because of the poor performance of the advertising market.
The company's share price has improved since hitting a low of 357.5p in March. The stock market hopes to see a sustained improvement in advertising in the coming year, leading to an improvement in Capital's performance.
Mr Mansfield has been keen to remind the stock market that Capital is more than just the eponymous London station, with the company owning a string of other regional stations.
At its annual results, he delivered an upbeat assessment of the company's prospects, revealing that advanced advertising sales for December were well ahead of last year.
- 1 Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
- 2 Amber Roof: Sister of Charleston shooting suspect Dylann Roof launches fund-raising appeal for wedding and honeymoon
- 3 'Help me I'm trapped in a factory' messages keep being found on bottles of vitamin water
- 4 Right to die: Belgian doctors rule depressed 24-year-old woman has right to end her life
- 5 BP hit with record $18.7 billion fine over Deepwater Horizon Gulf oil spill
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Amber Roof: Sister of Charleston shooting suspect Dylann Roof launches fund-raising appeal for wedding and honeymoon
Russell Brand condemns moment of silence for Tunisia attack victims as a 'minute of bulls**t'
Right to die: Belgian doctors rule depressed 24-year-old woman has right to end her life
Worker killed by robot at Volkswagen car factory
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
They are neither a 'state' nor 'Islamic': Why we shouldn't call them Isis, Isil or IS
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...