IMI’s new chief paid £590,000

The new chief executive of FTSE 100 engineering firm IMI was paid £590,000 in 2013, despite not taking up the role until the beginning of this year. Mark Selway, who joined IMI’s board on 1 October 2013 to ensure a smooth transition for when he started his new role on 1 January 2014, received a base salary of £188,000 and a bonus of £237,000 within the package. Outgoing chief Martin Lamb took home £6.69m, down from £7.95m in 2012.