Just over 20% of shareholders at last week’s Countrywide AGM voted against the remuneration report.
The report reveals that CEO Alison Platt is on a basic salary of £575,000 while finance director Jim Clark is on a basic of £340,000.
However, the basics represent 28% and 30% respectively of what each could potentially earn this year.
Both also have shares in the company, awarded under an incentive plan, are on 12-month notice periods, and both are entitled to pension contributions and benefits, with a maximum bonus potential of 120% of annual salary.
In total, Platt could earn some £2.5m this year.
The outgoing chairman, Grenville Turner, is on a basic of £150,000 and his successor, Peter Long, is on a basic of £180,000.
The Countrywide shareholders unhappy with the remuneration report were among a wave of rebel investors dissatisfied with the packages that many industry bosses are earning.
2.5 million per year and the poor negs are lucky if they have a basic of 15k
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I wonder if investors are concerned about all the radical changes and acquisitions that have been made by Ms Platt and her directors over the last 12 months – yet to be seen if this was a touch of genius or madness. Recent trumpeting about results for the last three months isn’t going to reassure anyone – all traditional agents have had a good start this year thanks in part to George Osbourne’s three card trick with second home purchases.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register