A £35m bonus for each boss at en­gi­neer

Daily Mail - - City & Finance -

BOSSES of an engi­neer­ing turn­around group are in line for bonuses of around £35m each in shares un­der a five-year in­cen­tive scheme com­ing to fruition.

Top brass at Mel­rose In­dus­tries will share around 70pc of a roughly £200m bonus pot likely to be con­firmed at the end of May.

The pay­out will make ex­ec­u­tives Si­mon Peck­ham, Geoffrey Martin, David Roper and Christo­pher Miller among the best paid in the City. The com­pany has re­turned £4.3bn in div­i­dends and other pay­ments to share­hold­ers over the past five years, mean­ing the pay­outs are un­likely to gen­er­ate a share­holder back­lash.

A spokesman for the com­pany said: ‘We’ve kept in­vestors com­pletely up to date on this since the scheme was ap­proved in 2012.’

In 2015, Mel­rose In­dus­tries’ chief ex­ec­u­tive Peck­ham earned £ 929,000 in­clud­ing £ 394,000 in bonuses, while chair­man Miller earned £533,000 as did vice- chair­man Roper. Fi­nance di­rec­tor Martin earned £753,000.

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