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.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...