Feeds

Internet execs the fattest of all fat cats

Gives a whole new meaning to the Christmas bonus

  • alert
  • submit to reddit

Remote control for virtualized desktops

A survey of boardroom financial rewards has shown that execs heading companies involved in the Internet economy are out-earning traditional company execs such as pharmaceuticals, utilities, retail etc.

The Guardian-Inbucon survey showed that the pay increase is due mostly to share price increases and the associated pay structures built around them by the top execs. The two top earning execs are both from Vodafone Airtouch: Arun Sarin made over £21 million on a salary of £391,000 and Mohan Gyani made £16 million on £143,000. The remainder was made up of "bonuses".

Vodafone also threw up the third-biggest earning finance director in the form of Ken Hydon - a cool £2 million. Other new economy fat cat companies include Energis and Sage. Energis heads the FD league (Chris Hibbert, £4 million on £217,500) and comes second in chief executive pay (Mike Grabiner, £11.5 million on £381,250). Sage comes eighth in FDs (£1.2 million) and third in chief execs (£6.6 million). And Colt Telecom chief exec Paul Chisholm tops the list by earning £15 million last year.

Don't know about you but these ludicrous "bonuses" agreed upon and voted for by the very people receiving them tend to make us feel a little sick. Aside from the fact that they are a complete stitch up, we feel that a worthwhile exec bonus would be based on success above and beyond expected share price rises. And while we're there, how come is it that "performance-related bonuses" only work one way? Does this not seem a little illogical?

That aside, we are sure that all of them provide excellent value for money. The Reg isn't sure that paying one of them £46,000 for a single day's consultancy would really be in our interests though. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.