RE: RNS out31 May 2022 09:49
Complete drivel. The salary cap is on NON EXECUTIVE DIRECTORS, not EXECUTIVE DIRECTORS. NON EXECUTIVE DIRECTORS work in an advisory capacity only, and generally work in a semi altruistic way, hence the average salary for a NON EXECUTIVE DIRECTOR being in the region of £40K per annum. All this talk about having to recruit the right calibre of director in nonsense, and trying to talk up the salary requirement for an NED using the football manager analogy is nonsense, by definition, a football manager is an executive who makes strategic decisions and implements them (it could be argued that a head coach is different, as he has more limited empowerment) so I guess that this argument is being put forward as a way of glossing over the fact that this would appear, to those without the benefit of rose tinted spectacles of simply being a way of increasing the moolah for the incumbent NED's. If there were a need for a top flight operations director, then make it an executive post, and pay accordingly, and if that means £150K a year, then so be it, but please don't insult our intelligence by suggesting that this raising of the remuneration cap for ADVISORS ONLY with NO directorship responsibility risk has anything to do with the gearing up of production, delivery or whatever, it simply doesn't.