The BBC is reporting that BT’s CEO will donate half his annual salary to charity and has promised not to lay off staff.
Setting a good example that other CEOs on generous packages should follow at this time when individuals and H.M. Treasury are making big sacrifices to protect the nation’s health and economy.
It should be noted, however, “half his annual salary” appears to refer to his BASE salary, as reported in more depth, here: https://www.cityam.com/bt-gives-staff-pay-rise-as-chief-executive-donates-salary/
His MAXIMUM salary, including potential cash and share bonuses is over £8m, as disclosed in BT’s 2019 annual report and discussed here: https://www.thisismoney.co.uk/money/markets/article-7747869/BT-chief-executives-8m-pay-package-slashed-major-overhaul.html
A BT spokesman said the pay changes would be considered at next year’s AGM.
BT shareholders should review the proposed remuneration policy carefully and vote in accordance with their views.
Mark Bentley, Director, ShareSoc