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No bonus for GlencoreXstrata chief Ivan Glasenberg | No bonus for GlencoreXstrata chief Ivan Glasenberg |
(about 2 hours later) | |
Ivan Glasenberg, the billionaire chief executive of GlencoreXstrata, took no bonus or pay rise last year, getting by instead on his $182 million (£109 million) share of the dividend payout. | Ivan Glasenberg, the billionaire chief executive of GlencoreXstrata, took no bonus or pay rise last year, getting by instead on his $182 million (£109 million) share of the dividend payout. |
Accounts for the company’s first year as a merged entity show his maximum pay package, if he hits all his performance targets, could be up to $5.8 million but he decided to settle only for his basic pay and pension of £964,000, flat on the previous year. | Accounts for the company’s first year as a merged entity show his maximum pay package, if he hits all his performance targets, could be up to $5.8 million but he decided to settle only for his basic pay and pension of £964,000, flat on the previous year. |
Tony Hayward, famed for being the boss of BP at the time of the Deepwater Horizon disaster in the Gulf of Mexico, was paid £474,000 by the commodities giant, making him one of the country’s best-paid non-executive directors. Added to his package at Genel Energy, Mr Hayward earned around £2 million last year. | Tony Hayward, famed for being the boss of BP at the time of the Deepwater Horizon disaster in the Gulf of Mexico, was paid £474,000 by the commodities giant, making him one of the country’s best-paid non-executive directors. Added to his package at Genel Energy, Mr Hayward earned around £2 million last year. |
The company pointed out that Hayward’s bumper pay deal reflected the fact that he stepped in as interim chairman in May at the company which has still not found a replacement for the departed Simon Murray. | The company pointed out that Hayward’s bumper pay deal reflected the fact that he stepped in as interim chairman in May at the company which has still not found a replacement for the departed Simon Murray. |
Hayward has been tipped as a successor but the group has still not made up its mind. Genel has expressed doubts about whether he can pursue both roles. | Hayward has been tipped as a successor but the group has still not made up its mind. Genel has expressed doubts about whether he can pursue both roles. |
At Glencore’s recent financial results it said it would name the new chairman by May. | At Glencore’s recent financial results it said it would name the new chairman by May. |
Glencore’s board as a whole last year shared more than $200 million in dividends. | |
There were no bonuses for any directors, unlike in 2012 when chief financial officer Stephen Kalmin got £1.4 million. | There were no bonuses for any directors, unlike in 2012 when chief financial officer Stephen Kalmin got £1.4 million. |
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