Reuters directors must miss out on bonuses after failure to hit sales targets for dealing terminals
Total directors' remuneration for 1997 fell by 10 per cent as installations of the Series 3000 dealing systems only reached 28,000 after the first full year of sales against a target figure of 30,000. Bonuses were also affected after the group failed to achieve a 10 per cent growth in earnings per share last year.
The details were included in Reuters' annual report which was published yesterday. It showed that five directors enjoyed pay increases of 6.8- 17.7 per cent in a year when Reuters profits fell by four per cent to pounds 626m.
Peter Job, Reuters' chief executive, saw his basic salary increase by 17.7 per cent to pounds 500,000, despite the absence of a bonus. In the previous year his pay was boosted by a pounds 213,000 bonus to pounds 651,000.
Reuters chairman Sir Christopher Hogg, who resigned from the group's remuneration committee last month, saw his basic salary rise by 13.5 per cent to pounds 185,000 last year.
Reuters has been under increased pressure following an investigation in the US over whether some of its employees stole data from its arch rival Bloomberg.
Reuters has said it has no knowledge of illegal activity. Rivals have said that the Reuters 3000 system has failed to prove itself in the battle against Bloomberg.
Reuters shares closed 11p higher at 643p.
- 1 Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
- 2 Frank Lampard equalises for Manchester City against Chelsea: how Twitter reacted
- 3 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 4 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
350 skinny dippers brave Northumberland seas for record attempt at mass naked swim
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
iJobs Money & Business
Up to £80000: Saxton Leigh: My client, a large commodities broker, is looking ...
£80 - 100k + Bonus: Guru Careers: A COO / Chief Operating Officer is needed to...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...