Burberry CEO becomes first woman to top FTSE100 pay league
Tom Newcombe, June 10, 2013
Burberry chief executive, Angela Ahrendts, took home a total pay package of £16.9 million last year, making her the UK's highest paid CEO.
Ahrendts pay is almost £5 million more than the next top-earning chief executive.
According to the Total Remuneration Survey 2013, from corporate governance group, Manifest and pay consultancy MM&K, Ahrendts salary was £990,000 and her bonus was £1.98 million.
Her package also included an increase in pension contributions, a £387,000 cash allowance, money from her relocation package and sales of her shares, which made her the first female to top the chief executive pay league.
Ahrendts is one of just three female CEOs on the FTSE 100 list, despite mounting Government pressure for greater diversity in corporate Britain. The other female bosses in the FTSE 100 are Alison Cooper at Imperial Tobacco, and Carolyn McCall at EasyJet.
The second highest paid CEO is Angus Russell, head of pharmaceuticals firm, Shire, who took home a pay package totaling £12.1 million.
The combined total pay packages for the top five highest earning CEOs came to almost £58 million.
Ahrendts joined Burberry in January 2006, and took up the position of CEO in July 2006. The mother of three is now regarded as one of the most powerful executives in the multi-billion pounds luxury goods industry.
Commenting on Ahrendts pay, Burberry said she had "delivered record revenue and profit" and gave £4 billion of value to shareholders through dividends and a 186% increase in share price over five years.
Burberry will reveal Ahrendts pay for the 2012-13 financial year within the next two weeks.