Housebuilder Berkeley reveals £46m payout to its top directors
Berkeley group has grown to become one of the UK’s biggest housebuilders with a market value of around £4.8bn – and its top dogs are reaping the rewards.
Yesterday it revealed that chief exec Tony Pidgley took home £23.3m last year. Overall director pay leapt from £16.7m to £46.1m, as top execs benefitted from the firm’s strong share performance.
Despite the payout, Berkeley’s chief executive can’t beat WPP’s boss Martin Sorrell, who received £43m last year.
However, Pidgley’s pay exceeds that of top Premier League footballers such as Manchester United’s Wayne Rooney, Manchester City’s Sergio Aguero, and Chelsea’s Eden Hazard.
After leaving school at 15, Pidgley started a haulage business, which was later bought by housebuilder Crest Nicholson in 1968. He joined the board as part of the deal and went on to set up Berkeley Group Holdings in 1976.
Berkeley escaped relatively unscathed from the financial crisis, an outcome credited to Pidgley’s ability to call the market.