UK: S&N 2003 salary figures revealed
Scottish & Newcastle paid out more than £1m in bonuses last year. The company's annual report, released yesterday, shows that S&N's seven executive directors received performance-related bonuses totalling £1.3m in 2003.
Bob Ivell, the former chief of S&N's pubs arm who left the company in November, was awarded a £465,000 bonus. Tony Froggatt, who became chief executive in May, was paid £767,000 in 2003, including a bonus of £206,900. Each of the seven executive directors received a bonus worth 150% of their basic salary.
Going forward, Froggatt will earn a basic salary of £630,000 in 2004, an increase from the £400,000 salary he joined the company for. Sir Brian Stewart, who stepped down as chief executive to make way for Froggatt, will earn £300,000 for his non-executive chairmanship of the company.
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