Top payout for boss at Persimmon
Tuesday 19 March 2013
The outgoing boss of the housebuilder Persimmon racked up a maximum bonus of more than £1m last year, the company's annual report showed yesterday.
Mike Farley, who retires next month after 30 years at the business, earned the payout after the builder raised pre-tax profits by 52 per cent to £225.1m last year.
The result triggered a maximum bonus of 150 per cent of salary – £1.02m, of which £678,800 was in cash. The reward pushed up his overall package from £1.86m to £1.93m in 2012. He will also be allowed to keep 966,400 shares under a lucrative long-term incentive scheme which kicks in if the company can return £1.9bn to shareholders by 2021.
Persimmon, whose Charles Church family homes are in strongest demand, has pushed its forward sales past the £1bn mark in 2013 for the first time since the pre-credit crunch days of 2007. Along with other housebuilders, it is gaining from the Funding for Lending scheme and initiatives to help first-time buyers with deposits.
Royal Marine Sgt Alexander Blackman jailed for life for murder of Afghan insurgent
Ja Rule forced to deny leaving wife for prison cell mate
Nelson Mandela: 11 inspirational quotes to live your life by
Nelson Mandela: From 'terrorist' to tea with the Queen
Crash pilot who threatened Ukip leader Nigel Farage found dead
- 1 Cameron's freebie to apartheid South Africa
- 2 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 3 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 4 A forgotten episode in Russian history leaves links with the Philippines
- 5 People will try to reduce Mandela to a lilting reggae tune about ‘love’. They will fail
- < Previous
- Next >
iJobs Money & Business
£30000 - £40000 per annum + Bonus and Benefits: Harrington Starr: A global Con...
£150 - £250 per day: Cornwallis Elt : iPhone Rollout- Blackberry Enginee...
£55000 - £70000 per annum: Pro-Recruitment Group: A well-known and renowned in...
£450 - £500 per hour: Cornwallis Elt : Business Analyst Finance System Hy...