Stronger rules are needed to rein in executive pay as all workers and women bosses are left behind as pay gap widens with a gold-mining chief enjoying a £16.8m package, says a pay think-tank
The chief of Endeaevour Mining Sébastien de Montessus received £16.8m – 539 times as much as a median UK full-time worker The pay of the bosses of Britain’s biggest companies surged by 39 per cent in the aftermath of the pandemic.
Median pay for a FTSE 100 chief executive rose from £2.46m in 2020 to £3.41m in 2021. Chief executives’ pay has also surpassed the £3.25m median recorded in 2019.think-tank and the TUC, reveals the pay gap between executives and regular full-time employees is growing with the median FTSE 100 chief executive now paid 109 times the median UK full time worker, up from 79 times in 2020 and 107 times in 2019.
Researchers found bonuses paid to bosses had also increased. Bonuses leapt to £1.4m compared with £828,000 in 2020 and £1.1m in 2019. Nine in 10 bosses received a bonus.The highest paid executive was Sébastien de Montessus, chief executive of the London-listed African gold mining company, Endeavour Mining, who received £16.8m – 539 times as much as a median UK full-time worker.
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