CEO gets £1.6m – 106 times his workers

MARKS & Spencer’s boss pocketed a near £600,000 bonus, despite profits plunging.

Chief executive Steve Rowe also got an £809,000 basic salary, £202,000 pension perk and £32,000 of extras, including a staff discount.

The package – more than £1.6million – comes despite profits crashing by almost two-thirds to £176million in the year to April.

M&S used a different measure of profits, excluding one-off costs, to justify a total of £1.5million in bonuses for their top three bigwigs.

Finance chief Helen Weir got a £496,000 bonus, while Patrick Bousquet-Chavanne, executive director of customer, marketing and M&S.com, bagged a £459,000 reward. All three declined a two per cent rise.

M&S said they were “satisfied the bonuses reflected hard work”. Under a A FAMILY behind online fashion phenomenon Boohoo have raked in £80million from a share sale. Co-founder Mahmud Kamani, along with siblings Rabia and Nurez Kamani, have offloaded 36.6million shares.

The Manchester-based business also used a share sale to raise down 28.6 at 7449.6 GlaxoSmithKline Halfords Hays HSBC Imperial Brands International Airlines Grp ITV Kingfisher Land Securities Legal & General Lloyds Marks & Spencer Morrison National Grid Next Old Mutual Pearson Prudential Reckitt Benckiser RELX Rentokil Initial 1681.0 366.3 168.5 684.9 3547.0 593.5 186.2 310.5 1069.0 255.2 70.7 366.7 243.5 1021.0 4352.0 196.0 709.0 1753.0 7852.0 1670.0 279.0 -7.5 +9.9 +5.0 +3.0 -79.5 +3.0 +2.3 -3.3 +2.0 +1.2 +0.6 +2.1 -0.5 +0.5 +66.0 -1.8 +2.5 +10.5 -124.0 -15.0 +2.6 Oil shake-up, customer assistants got a 14.7 per cent pay rise – to £8.50 an hour.

But premium rates of pay for working Sundays, bank holidays and unsocial hours were scrapped or reduced. Rowe’s salary is 52 times that of a fulltime worker on £15,470 a year. His £1.6million package is 106 times bigger. = $48.09 Rio Tinto Rolls-Royce Royal Mail RSA RBS J Sainsbury SSE Severn Trent Serco Sports Direct Shell Sky Smith & Nephew Smith WH Stagecoach Standard Chartered Standard Life TalkTalk Taylor Wimpey Tesco Thomas Cook Unilever £50million to help build a new warehouse.

Boohoo, founded in 2006 by Kamani and Carol Kane, are already valued at £2.5billion. 3224.0 888.0 440.4 614.0 257.2 267.4 1492.0 2506.0 116.9 286.6 2110.0 987.5 1349.0 1727.0 202.5 759.0 384.2 168.4 183.5 180.0 94.9 4269.0 +57.5 0.0 +3.3 -0.5 +2.1 -1.3 +15.0 +10.0 +0.3 -1.3 -5.0 -2.5 -15.0 +8.0 +2.5 +6.9 +3.2 +1.3 +1.7 +1.5 +2.4 -73.5 M&S MODEL Rosie Huntington-Whiteley United Utilities Vodafone Wolseley Trinity Mirror 997.5 218.0 4891.0 103.3 +7.5 -11.0 -25.0 -0.2