Ex-Diageo boss prospers from share price surge with £14.8m

 
Michael Bow
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FORMER Diageo boss Paul Walsh was paid £14.8m last year thanks to the company’s soaring share price over the last three years.

Walsh, who stepped down at the start of July to be replaced by chief operating officer Ivan Menezes, pocketed around £12.3m alone from Diageo’s long term incentive plan, about 83 per cent of his overall reward.

Diageo’s share price has rocketed 80 per cent since 2010, when the share awards were originally made.

Walsh’s fixed annual salary of £1.28m represented nine per cent of the overall remuneration package. His annual bonus, £1.25m, represented a further eight per cent.

Walsh, who was highly regarded by analysts and stock pickers during his time at Diageo, is now an adviser to the company.