GUS boss bags £1.61m bonus
Jungle.com owner doles out exec rewards
The chief exec of Great Universal Stores (GUS) earned £1.61 million last year.
John Peace got a £683,000 long-term incentive super bonus to boost his pay packet from the basic £564,000 salary, £344,000 regular bonus, and tax benefits of £17,000.
Peace's fat super bonus was due to the performance of Experian, the GUS-owned consumer credit business he headed before promotion to the top GUS job.
Ex-Dixons man Terry Duddy, who runs Argos, is also expected to benefit from GUS' long-term incentive arrangements.
GUS owns the high street retailer Argos, the online retailer Jungle.com and, until June, it owned the ISP Breathe.
GUS bought Jungle.com in September 2000 for £37 million. It bought Breathe in January 2001 for £1.4 million and sold it in June for £1.75 million. ®