Bob Diamond, CEO of Barclays
Bob Diamond, the CEO of Barclays Bank, is named as the highest paid CEO of any FTSE 100 listed company in 2011 usingr a new methodology designed to replicate rules being bought in by the government that requires companies to publish one overall figure for executive pay.
Diamond total “realisable remuneration” was £20.9 million, this includes salary and any long-term bonuses that have vested during the year as well as any share options that could be cashed in.
The Manifest/MM&K survey highlights the huge differences in complex pay deals across FTSE 100 companies made up of salaries, one-year bonuses and pay-out from long-term plans spanning three or five years.
The Barclays long term shareholders meanwhile have not benefitted as £100 invested in the bank’s shares 60 years ago would now be worth just £88. When inflation is taken into account, this really amounts to a complete loss for long term investors.
Recent share price performance has also been dire. Over ten years, the shares have fallen 30% and anyone who bought five years ago would have seen their investment plunge by 76%.
This is in stark contrast to chief executive pay. which has risen by 4,899 per cent since 1979, according to the High Pay Centre.
These stark figures do not seem to have accelerated the reform process which, shareholders, regulators and politicians are still considering if or how shareholder value creation and financial performance should be linked to executive remuneration.
Top 10 Highest Paid Chief Executives
- Bob Diamond, Barclays £20.9m
- Sir Martin Sorrell, WPP £11.6m
- David Brennan, AstraZeneca £11.3m
- Sir Andrew Witty, Glaxo £10.7m
- Marius Kloppers, BHP Billiton £9.8m
- Peter Voser, Shell £9.7m
- Sir Frank Chapman, BG £9.6m
- Michael Spencer, ICAP £9.3m
- Samir Brikho, Amec £8.9m
- Dame Marjorie Scardino, Pearson £8.9m
Includes salaries, bonuses and any share options that could be cashed in during the year
Source: Manifest/MM&K
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