From the TUC

Telegraph signatories take home £14.6 million a year

18 Oct 2010, by in Economics

In today’s Daily Telegraph 35 business leaders sign a letter backing the cuts.

We’ve done some quick digging around and so far we have got their total annual salary up to £14.6 m a year, though there are still some gaps.

I don’t think they are going to be hurt very much by the cuts. Tax would perhaps be another thing.

Sources are the company’s annual reports from 2010 unless otherwise stated.

Warren East – CEO, ARM Holdings

Salary/benefits/bonus/pension contributions: £824,971 in 2009; £761,154 in 2008. Also received £45,250 in 2010 as a non-executive director of De La Rue plc. (up from £39,375 in 2008). (Annual Report 2009)

Sir Christopher Gent – Non-Executive Chairman, GlaxoSmithKline

Total remuneration £680,000 in 2009 and £651,000 in 2008. (Annual Report 2009)

Neil Johnson – Chairman UMECO

From 19 October 2009, the date of his appointment to the Board, to 31 March 2010, Neil Johnson received fees totalling £125,000 per annum for his services to the Company.

Ian Livingstone – CEO, BT Group

Salary, benefits and bonus in 2010 from BT amounted to £2.105m. In 2009 it had been £1.174m.

Also receives an annual fee of £25,000 as a non-executive director of Celtic and an additional annual fee of £5,000 for chairing the audit committee.

Ruby McGregor-Smith – CEO, MITIE Group

Salary/fees, plus bonus (including deferred as shares), pension contribution and benefits: in 2010 was £1.157m; in 2009 was £898,000.

Also receives fees of £45,000 per annum in respect of her role as a Non-Executive Director of Michael Page International plc.

John Nelson – Chairman, Hammerson

In 2009 £225,000 from Hammerson (Annual Report 2009).

Stefano Pessina – Executive Chairman, Alliance Boots

Salary and benefits from Alliance Boots (excluding one off payments and pensions) in 2010 was £666,000; in 2009 was £701,000.

According to the 2010 Forbes billionaires the resident of Monte Carlo’s net worth is $1.4bn. (

Nick Prest – Chairman, AVEVA

Current salary and fees from AVEVA: £85,000 which was unchanged from 2009. (Annual Report 2010)

Nick Robertson – CEO, ASOS

Salary and ‘other’ (no pension/benefits) in 2010 amounted to £341,596. In 2009 it was £436,800

Sir Stuart Rose – Chairman, Marks and Spencer

Salary reduced from £1.16m to £875,000 from 31 July 2010.

£57,000 from Land Securities Group plc.

Michael Turner – Executive Chairman, Fuller, Smith and Turner

Total of salary, car allowance, benefits in kind and bonus: £487,000 in 2010 and £398,000 in 2009 .

Paul Walker – Chief Executive, Sage

2009: salary/bonus/benefits in kind £1.161m.

Including gains on share options, the total emoluments of the highest paid director, which was Paul Walker, were £1,354,000 (2008: £1,307,000).

In 2009 received £75,000 as non-executive director of Diageo plc

(Annual Report 2009)

Paul Walsh – Chief Executive, Diageo

Total remuneration in 2010 was £3.178m; in 2009 it was £1.706m

Received £76,000 from Unilever Plc. and £62,000 from FedEx Corporation as a non-executive director.

Robert Walters – CEO, Robert Walters

Total emoluments in 2009 was £630,000 and in 2008 was £820,000

(Annual Report 2009)

Bob Wigley – Chairman, Expansys, Stonehaven Associates. Yell Group

As non-executive director and chair of Yell his remuneration from July 24th 2009 to 31st March 2010 was £177,000 including benefits.

Simon Wolfson – Chief Executive, Next

Salary/benefit/bonus in 2010 was £1.737m and in 2009 was £831,000.

7 Responses to Telegraph signatories take home £14.6 million a year

  1. Tweets that mention Telegraph signatories take home £14.6 million a year | ToUChstone blog: A public policy blog from the TUC —
    Oct 18th 2010, 5:31 pm

    […] This post was mentioned on Twitter by PCS union, ToUChstone blog, PCS GONW Branch , PCS GONW Branch , Derek Bryant and others. Derek Bryant said: RT @touchstoneblog Telegraph signatories take home £14.6 million a year […]

  2. Tom Williamson
    Oct 18th 2010, 6:43 pm

    What bearing does the amount they earn have on whether they’re right or not?
    Long-term economic policy cannot be based on ‘sob stories’ from those most in need. They need to be hard-headed and economically sound. The government understands this, even if some don’t.

  3. john
    Oct 18th 2010, 10:29 pm

    By supporting the tories slash and burn job cuts,these esteemed businessmen are cutting their own throats,How far does a dole cheque go in M & S or Topshop?
    This shouldn,t fool anyone,,This is special pleading to the rich, by the rich and for the rich, and nothing more.

  4. Tax Research UK » Why trust this lot?
    Oct 19th 2010, 6:58 am

    […] Stanley at the TUC notes: In today’s Daily Telegraph 35 business leaders sign a letter backing the […]

  5. Maurice Macartney
    Oct 19th 2010, 10:13 am

    Tom Williamson says economic policy should not be based on the stories of those most in need (‘sob-stories’ is offensive). But this is precisely what economic policy should be based on. A society should be judged by the manner in which it treats its neediest members; economic policy by the results for the poorest. These businessmen are ‘right’ if the aim is, as we are told, to appease ‘the markets’ (ie other businessmen). But I thought democracy was about rule of the people by and for the people. How about a ‘hard-headed’ clamp down on tax avoidance?

  6. Roger
    Oct 19th 2010, 10:21 am

    What would be even more illuminating would be how much tax their companies paid in the UK compared to their turnover and profit.