'Strong' performance sees BSkyB pay Darroch £2.8m
Nick Clark is the arts correspondent of The Independent. He joined the newspaper in June 2007, initially reporting on the stock markets. He has covered beats including the City, and technology, media and telecoms and made the switch to arts in December 2011. He has also contributed articles to the sports section.
Saturday 29 October 2011
BSkyB's chief executive took home a £2.8m pay packet in the year that the company hit 10 million customers and posted profits of £1bn.
Jeremy Darroch was handed a basic salary of £888,000, £73,562 in benefits and the maximum bonus of £1.7m, after the company hit all of its targets.
The broadcaster said: "Performance during the past year was very strong and the company exceeded each of the targets set." The targets related to profits, cash flow and the growth of customers taking TV subscriptions.
In addition to the payments, Sky awarded Mr Darroch 600,000 shares under its long-term incentive scheme. He also guided the company through a turbulent period as News Corporation's attempted £8bn takeover bid collapsed.
The company's annual report, which was published yesterday, also stated that its chief financial officer, Andrew Griffith, was paid a bonus of £819,000, also the maximum on offer.
After a review of salary levels, Mr Darroch's basic pay has this year been increased 5 per cent, the report said.
The report showed that BSkyB's chairman, James Murdoch, was paid £88,800. Shareholders are expected to oppose his re-election to the post next month.
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