Salary accelerator works for Persil Power chiefs
Tuesday 11 April 1995
Niall FitzGerald saw his total pay package rise to £864,240 last year, overtaking the chairman, Sir Michael Perry, who received £818,950.
As "detergents co-ordinator", Mr FitzGerald has been put in charge of a damage-limitation exercise, which is overhauling procedures in anattempt to avoid a repeat of last year's disastrous launch of Persil Power.
Earlier this year, Sir Michael called that "the greatest marketing setback we've seen", after Unilever was forced into an admission that its new detergent damaged clothes by an advertising campaign run by arch-rivals Procter & Gamble.
His comment came as Unilever revealed it was writing £57m off its investment in Persil Power, which contained a new manganese "accelerator" said to have enhanced cleaning properties.
Unilever's annual report, published yesterday, shows that Mr FitzGerald received a basic salary plus benefits totalling £679,803. A spokesman for Unilever said the figure wasinflated by unspecified relo-cation expenses to cover his move from Rotterdam to London in 1993.
On top of his ordinary salary, he received £184, 437 in performance-related payments, which included the exercise of 69,651 options at prices ranging from 507p to 730p. Unilever said these included "mirror options" granted on the Dutch part of his salary to compensate for his being disallowed options in the London-quoted arm of the group when he was finance director in the late 1980s.
Sir Michael saw his basic pay rise 14.6 per cent to £686,890 last year, while performance-related payments more than doubled to £132,060 from £63,600 the year before. He exercised a total of 51,995 options at prices ranging from 507p to 663p.
In addition, contributions to the company pension scheme totalled £18,962 for Mr FitzGerald and £35,889 for Sir Michael.
Oscar Pistorius trial: Defence's own witness contradicts athlete's version of events
Oscar Pistorius trial: The case against Oscar Pistorius – and why the prosecution claims his story doesn't add up
Man ruins 38 million gallons of drinking water by urinating in Portland reservoir
Peaches Geldof dead: Private funeral for the family and friends of the socialite will take place next week
Shropshire criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Are you turning into your dad? The top ten signs you've embraced dad-ism revealed as survey says 38 is age men turn into their father
- 2 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 3 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...