A number of companies released their annual reports today, and revealed the pay packages their bosses will be pocketing. It was noted by some that the firms had chosen rather a big news day to publish this information, given that George Osborne delivered the Budget at lunchtime - but that was probably just a big coincidence.
British Gas owner Centrica awarded chief exec Iain Conn earned £3m in his first year at the energy company. The group last month revealed that revenues had dropped five per cent to £28bn, while adjusted operating profit slumped 12 per cent to £1.5bn. The operating loss narrowed from £1.3bn in 2014 to £1.1bn this year.
The poor results meant a smaller payout for shareholders - Centrica has slashed its dividend by 11 per cent to 12p, down from 13.5p per share last year.
Domino’s Pizza Group
Domino’s boss David Wild made a total of £1.86m last year - down from £2.32m the year before. The group, which owns the master franchise for the UK, Republic of Ireland, Switzerland, Liechtenstein and Luxembourg, did grow UK sales by 10 per cent in 2015, up to £283.7m from £257.6m, and profit for the UK & Ireland jumped by almost 17 per cent to £74.5m. The pizza chain also recently divulged some tasty information. "We are putting more cheese on the cheese and tomato pizzas,” said Wild. “We actually increased the amount of cheese on that quite significantly.”
Ex-BP boss and current Genel chairman Tony Hayward - who was chief executive until July last year - took home £468,000. Hopefully he still has something left over from the £2.5m he was paid in 2014. Genel recently reported its biggest annual loss since the company floated on the stock market four years ago. Genel's losses before tax ballooned by 271 per cent to $1.2bn (£841m), from $312.8bn in 2014. Its revenue also fell, by 33.8 per cent to $343.9m, down from $519.7m a year earlier.
David Fischel, chief exec of shopping centre management group Intu, was paid £1.65m in 2015, up from £1.15m in 2014. Over the past 12 months, Fischel oversaw an increase in revenue - up to £571.6m from £536.4m - but pre-tax profit dropped to £513m from £594m and earnings per share dropped to 37.5p from 46.3p.