No bonus for GlencoreXstrata chief Ivan Glasenberg
Ivan Glasenberg, the billionaire chief executive of GlencoreXstrata, took no bonus or pay rise last year, getting by instead on his $182 million (£109 million) share of the dividend payout.
Accounts for the company’s first year as a merged entity show his maximum pay package, if he hits all his performance targets, could be up to $5.8 million but he decided to settle only for his basic pay and pension of £964,000, flat on the previous year.
Tony Hayward, famed for being the boss of BP at the time of the Deepwater Horizon disaster in the Gulf of Mexico, was paid £474,000 by the commodities giant, making him one of the country’s best-paid non-executive directors. Added to his package at Genel Energy, Mr Hayward earned around £2 million last year.
The company pointed out that Hayward’s bumper pay deal reflected the fact that he stepped in as interim chairman in May at the company which has still not found a replacement for the departed Simon Murray.
Hayward has been tipped as a successor but the group has still not made up its mind. Genel has expressed doubts about whether he can pursue both roles.
At Glencore’s recent financial results it said it would name the new chairman by May.
Glencore’s board as a whole last year shared more than $200 million in dividends.
There were no bonuses for any directors, unlike in 2012 when chief financial officer Stephen Kalmin got £1.4 million.
- 1 Double chins could be 'cured' without surgery or dieting using new injection
- 2 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 3 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 4 Thank heavens for Louise Mensch and her foul-mouthed tweets to world leaders
- 5 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...