Sky chief sees pay packet hit £16.3m

Yorkshire Post - Business - - MARKET REPORT -

SKY HAS con­firmed that chief ex­ec­u­tive Jeremy Dar­roch’s to­tal an­nual pay packet more than tre­bled to £16.3m last year af­ter he ben­e­fited from a gen­er­ous share award.

The broad­cast­ing gi­ant’s an­nual re­port shows that Mr Dar­roch re­ceived an £11.8m share pay­out as part of his long-term in­cen­tive plan. This was on top of his £1m base salary, a £1.9m bonus and £1.4m awarded as part of a co-in­vest­ment plan.

The £16.3m is more than three times the amount Mr Dar­roch net­ted in 2016, when he took home a to­tal of £4.6m.

Sky is still the sub­ject of a takeover at­tempt by Ru­pert Mur­doch’s 21st Cen­tury Fox, which is at­tempt­ing to ac­quire the 61 per cent of Sky it does not al­ready own in an £11.7bn deal.

How­ever, on Tues­day, Cul­ture Sec­re­tary Karen Bradley told MPs she is likely to re­fer the deal to Com­pe­ti­tion and Mar­kets Author­ity for a full in­ves­ti­ga­tion cen­tred on broad­cast­ing stan­dards.

The an­nual re­port also shows Sky’s fi­nance chief, An­drew Grif­fith, saw his pay rise sub­stan­tially from £2.4m to £9.2m.

As part of his pay deal, Mr Grif­fith trousered £6.8m af­ter of­fload­ing 700,000 shares, also as part of a long-term in­cen­tive plan. De­tails of the pay awards come af­ter Sky an­nounced in July its an­nual prof­its were hit by the cost of broad­cast­ing live Premier League foot­ball.

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