[UK] Chief execs back on full pay as company losses continue

[UK] Chief execs back on full pay as company losses continue
15 Oct 2020

According to Mail on Sunday reporting, a number of chief executives at crisis-hit retailers, airlines and hotels have returned themselves to full pay after accepting coronavirus-related salary cuts earlier in the pandemic. The investigation reportedly revealed easyJet's Johan Lundgren, InterContinental Hotels Group's Keith Barr, Greencore's Patrick Coveney and Compass's Dominic Blakemore are among the chief execs back on pre-COVID earnings. 

Bosses at all the major housebuilders - companies benefiting from a state-funded stamp duty holiday - are also said to have reverted to full pay. Other bosses set to return to full pay after a cut include executives at BT, JD Sports and WPP. Mr Lundgren agreed to cut 20 per cent of his £740,000 a year easyJet earnings for three months from April to June to save money while the airline's fleet was grounded. He returned to his full pay packet when some easyJet flights resumed, despite the fact that the carrier remains in the grip of a financial crisis. This is Money has full details of the investigation’s findings. 

According to Mail on Sunday reporting, a number of chief executives at crisis-hit retailers, airlines and hotels have returned themselves to full pay after accepting coronavirus-related salary cuts earlier in the pandemic. The investigation reportedly revealed easyJet's Johan Lundgren, InterContinental Hotels Group's Keith Barr, Greencore's Patrick Coveney and Compass's Dominic Blakemore are among the chief execs back on pre-COVID earnings. 

Bosses at all the major housebuilders - companies benefiting from a state-funded stamp duty holiday - are also said to have reverted to full pay. Other bosses set to return to full pay after a cut include executives at BT, JD Sports and WPP. Mr Lundgren agreed to cut 20 per cent of his £740,000 a year easyJet earnings for three months from April to June to save money while the airline's fleet was grounded. He returned to his full pay packet when some easyJet flights resumed, despite the fact that the carrier remains in the grip of a financial crisis. This is Money has full details of the investigation’s findings. 

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