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Highlights
- According to a report released by the High Pay Centre, the average FTSE 100 CEO was paid £2.69 million in 2020.
- The average annual pay of the blue-chip bosses dropped during the pandemic.
- Pascal Soriot, CEO of vaccine-maker AstraZeneca, topped FTSE 100 pay-out charts in 2020 with £15.45 million.
A report published by the High Pay Centre showed that the average FTSE100 CEO was paid £2.69 million in 2020, which were 86 times the average salary of a full-time worker, £31,000, in the UK. The figure shows fall in average CEO pay by 17% as compared to £3.25 million in 2019.
The average annual pay of the blue-chip bosses dropped during the pandemic, however, it still equates to what an average worker earn in a lifetime.
Pascal Soriot, CEO of COVID-19 vaccine-maker AstraZeneca, topped FTSE 100 pay-out charts in 2020, making £15.45 million (US $21.25 million), followed by Brian Cassin, CEO of Experian, who made £10.3 million, the report revealed.
Of the nine companies which used public money through furlough scheme to pay their workers, the average CEO pay was £2.39 million.
According to the report, the number of companies paying bonuses to their CEOs dropped from 89% in 2019 to 64% in 2020, while the long-term incentives plans- based performance over the last 3-5 years decreased to 77% from 82% in 2019.
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Further, the average bonus size was cut down from £1.1 million to £828,000 and average long-term incentive plan (LYIP) payment reduced to £1.38 million from £2.4 million.
The six companies with female CEOs made an average £2.63 million, slightly lower than the average of £2.8 million at companies with male CEOs.
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The 10 highest paid FTSE 100 CEOs in FY 2020:
Source- highpaycentre.org
- Pascal Soriot
Pascal Soriot has been the member of the Board and CEO of AstraZeneca since October 2012. He topped the chart of highest paid FTSE 100 CEOs in FY 2020 by making £15.45 million. AstraZeneca (LON: AZN) is one of the leading biopharmaceutical company engaged in discovery, development, manufacturing and selling of biotechnology and pharma products. In FY2021, it reported total revenue of US $26,617 million from US $24,384 million in FY2020 and its operating profit increased to US $5,162 million from US $2,924 million in FY2020. The market capitalization stood at £135,268.84 million on 19 August 2021.
- Brian Cassin
Brian Cassin was appointed as CEO on 16 July 2014 and was made the Chief Financial Officer on 30 April 2021 and. In FY 2020, he made £10.30 million. Experian Plc (LON: EXPN) is an information support services company that is engaged in data analytics and software development for its clients. In FY2021, the company reported revenue of US $5,372 million from US $5,179 million in FY2020 and its operating profit decreased from US $1,185 million to US $1,185. The market capitalisation stood at £29,225.99 million on 19 August 2021.
- Albert Manifold
Albert Manifold joined CRH Plc in 1998 and was appointed as CEO in January 2009. In FYE 2020 he made £9.92 million. CRH Plc (LON: CRH) is a leading diversified building material group operating in 3,100 locations across the world. In 2020 the company reported revenue down by 2% at $27.6 billion from $28.1 billion in 2019, EBITDA was reported up by 3% at $4.6 billion from $4.5 billion in 2019 and Profit after Tax was down by 29% at $1.2 billion from $1.6 billion in 2019. The market capitalization stood at £29,324.53 million on 19 August 2021.
- Laxman Narasimhan
Laxman Narasimhan was appointed CEO-designate of Reckitt Benckiser in July 2009 and was appointed as the CEO on 1 September 2019. He made £9.24million in FY 2020. Reckitt Benckiser (LON: RKT) is a global consumer goods business that is engaged in manufacture and distribution of household, pharma, hygiene, food and nutrition products. In FY2020, the company reported revenue of £13,993 million up from £12,846 million in FY2019 and Operating profit increased to £2,160 million in FY2020 up from the loss of £1,954million. The market capitalisation stood at £40,353.21 million on 19 August 2021.
- Rob Perrins
Rob Perrins joined Berkeley in 1994 and was appointed as CEO on 9 September 2009. He made £8.03 million in FY 2020. Berkeley Group Holding Plc (LON: BKG) is a UK’s house building company with an objective to build quality homes to strengthen the local community. The company reported profit before tax up by 2.9% at £518.1 million in FY 2021 from £503.7 million in FY2020 and its earnings per share increased by 4.5% at 339.4p from 324.9p. The market capitalisation stood at £5,998.40 million on 19 August 2021.
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- Mark Cutifani
Mark Cutifani was appointed as CEO of Anglo American on 3 April 2013. He made £7.82 million in FY 2020. Anglo American Plc (LON: AAL) is a global leading mining company, it has a portfolio of mining operation with primarily focus on Platinum group metals, diamonds, iron ore, manganese, copper and nickel. The company reported that its revenue was up by 114% at $21,779 million in the first six months ended 30 June 2021 from US $10,187 million in H1 2020 and its underlying EBITDA increased by 262% at US $12,140 million from US $3,350 million in first half of 2020. The market capitalisation stood at £44,079.88 million on 19 August 2021.
- Peter Jackson
Peter Jackson was appointed as CEO of Flutter in January 2018. He made £7.52 million in FY 2020. Fultter Entertainment Plc (LON:FLTR) is a global gaming, betting and entertainment business. It operates through its brand Paddy Power, Betfair, FanDuel, FOX Bet, Sportsbet, TVG, Adjarabet, PokerStars, Sky Betting and Gaming, Oddschecker and Airton Risk Management. The company reported revenue for first six months ended 30 June 2021 up by 99% at £3,053 million from £1,536 million in first half of 2020 and its adjusted group EBITDA increased by 75% at £597 million from £345 million. Its profit before tax increased by 221% at £77 million from £24 million in first half of 2020. The market capitalisation stood at £24,205.39 million on 19 August 2021.
- Jean-Sébastien Jacques
Jean-Sébastien Jacques was appointed as CEO July 2016 till January 2021, when Jakob Stausholm got appointed as CEO of Rio Tinto. He made £7.22 million in FY 2020. Rio Tinto Plc (LON: RIO) is a mining and metal business, which is engaged in production of iron ores, aluminium, copper, diamonds, titanium and borates. The company reported revenue for first six months ended 30 June 2021 up by 143% at US $13,661 million from US $5,628 million in first half of 2020 and its underlying EBITDA was up by 118% at US $21,037 million from US $9,640 million in first half of 2020. The market capitalization stood at £66,611.67 million on 19 August 2021.
- Emma Walmsley
Emma Walmsley was appointed as GlaxoSmithKline CEO in April 2017. she has been a member of Corporate Executive Team since 2011, as the president. She made £7.03 million in FY2020. GlaxoSmithKline Plc (LON: GSK) is a science-led global healthcare business with an objective to improve the quality of life. The company reported turnover for first six months ended 30 June 2021 decreased by 7% at £15,510 million of which second quarter stood at £8,092 million and the total operating profit was down by 31% at £3,368 million of which second quarter stood at £1,675 million. The market capitalization stood at £76,773.91 million on 19 August 2021.
- Tim Steiner
Tim Steiner was appointed as the CEO of Ocado Group on 13 April 2000. He made £6.97 million in FYE 2020. Ocado Group Plc (LON: OCDO) is an online grocery retailer, its principle activity include grocery retailing, monetization and development of intellectual property (IP). The company reported revenue for first six months ended 30 June 2021 up by 21.4% at £1,319.9 million from £1,086.8 million in first half of 2020 and EBITDA increased by 41.2% at £61 million from £19.8 million in first half of 2020. The company reported loss before tax of £23.6 million from £40.6 million in first half of 2020. The market capitalization stood at £14,118.70 million on 19 August 2021.
