Wednesday, 05 Aug 2020 04:52 PM MYT
A total of 36 companies on the FTSE 100, the London Stock Exchange’s flagship index, have announced cuts in executive pay due to the economic crisis resulting from the pandemic, the annual report said. None of the companies implementing the pay cuts have tackled the long-term incentive scheme, which generally makes up around half of executive pay, the analysis said.
A FTSE 100 company boss earned an average of £3.61 million in 2019, 119 times higher than the median British salary of £30,353.Tim Steiner, boss of online food retailer Ocado, was the top earner, raking in £58.7 million.
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