The drinks are on Diageos CEO, Paul Walsh

The drinks are on Diageo's CEO, Paul Walsh


The head of Diageo saw his annual salary leap by 72% last year, according to the firm's annual report.

The report, released yesterday (14 September), indicates that, despite base salaries for executive directors having been frozen in the year to the end of June, Paul Walsh's remuneration came in at around GBP6m (US$9.28m), a steep rise from the year before.

Whilst Walsh's base salary remained at GBP1.15m, he was awarded 171% of his annual wage as part of a short-term incentive plan. A long-term incentive plan, meanwhile, awarded Walsh in the range of 300% to 375% of his salary. Factoring in other benefits, Walsh's total remuneration for the 12-month period totalled GBP6.04m, up from GBP3.5m a year earlier.

Several press reports in the UK today have related Walsh's financial gains to the company's "freezing (of) workers' wages".

The section of the annual report dealing with Walsh's salary can be found here.