The Fiona MacCarthy

The Fiona MacCarthy

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Blog restarted June 2018

Paying for failure

UK & IrishPosted by Fiona MacCarthy Sun, May 06, 2012 11:29:28
Share price falls from £7 to 32pence in 10 years.

The Chef Executive is on a salary of £750,000 per annum plus bonuses and has earned £14million in the same 10 years.

Yet the company offers her a million quid to leave.

That is and was Sly Bailey's contribution to creating wealth at Trinity Mirror Group (Mirror and some 160 regional titles), but not for shareholders.

This week we have seen a groundswell of shareholder revolt against paying to fail. Why not a lower salary and a simple long term share based bonus. Stop using incestuous remuneration committees with fancy complicated schemes that consume more and more pages of annual reports and keep it simple. If these people were so good and fantastic they would have set up their own business and not gone for salaried employment.

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