PAY for FTSE 100 chairmen rose six per cent on average last year, but fewer companies raised directors’ fees, new data shows.
A yearly review of non-executive director pay by Incomes Data services (IDS) has revealed the average fee for a non-executive chairman was £397,350 in 2012. Pay for chairmen ranged from £270,000 in technology businesses to £517,943 in oil and gas companies.
IDS added that fewer FTSE 100 firms – one third as opposed to two thirds in 2011 – increased their non-executive directors’ (NED) fees during 2012 than in the previous year.
The average NED pay last year was up four per cent to £64,302. That figure is double what it was 12 years ago.
Nasreen Rahman, assistant editor at IDS, said: “Investor scrutiny over boardroom pay and the link to shareholder returns continues to be a contentious issue, which could be why fewer FTSE 100 businesses raised their fees for NEDs during 2012.”