Sky chief sees pay packet hit £16.3m
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.