Poor FTSE returns for best-paid chairmen
They are the best-paid chairmen in Britain. And the corporations they oversee are all in the FTSE 100 index.
Crashing: Some of the best-paid chairmen in the UK have seen company stock fall
But the ten companies headed by the highest-earning bosses have proved a lousy investment.
Their share prices have fallen nearly 36% over the past year, according to investor website DigitalLook.
Only one of the ten - GlaxoSmithKline, chaired by Sir Christopher Gent on a basic salary of £650,000 a year - showed any rise at all, up by 0.3%. Over the same period, the index as a whole went down 30%.
But at the other end of the scale, the companies with chairmen on the lowest salaries have comfortably out-performed the index, rising by an average 1.1%.
The average performance of the high-earner companies has been dragged down by poor performing bank shares.
Sir Philip Hampton has arrived as RBS chairman on a basic salary of £787,000, but investors have seen the value of their holdings fall by 91%.
Outgoing Standard Chartered chairman Mervyn Davies, on £925,840, has presided over a share price fall of nearly 43%. And shares in Lloyds Banking group, under the chairmanship of Sir Victor Blank (£600,000), have fallen 85%.
And outside banking, mining group Rio Tinto, chaired by Paul Skinner, on a basic of £930,100, saw its share price tumble by 53%.
Just five FTSE-100 chairmen earn less than £100,000: Stephen Marshall of Balfour Beatty; Mark Loveday of Foreign & Colonial Investment Trust; Leslie Knox of Alliance Trust; Alastair Lyons of Admiral and Philippe Lietard of Randgold Resources.
All five companies outperformed the FTSE 100. Randgold shares rose by more than 50%.
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