Remuneration....5 Mar 2025 20:35
See below, how a proper listed company pays management, incentives for performance not just throwing millions away for complete and utter failure.
"The chief executive of British Airways owner IAG has received a huge pay rise after its shares surged on the FTSE 100 over the last year.
Luis Gallego has been handed a pay packet of £4.6m for the group’s latest financial year, up from the £3.1m he received for 2023.
The latest figure also compares to the £2.5m he was given in 2022, £1.1m in 2021 and £963,000 in 2020.
The owner of British Airways said the value of Gallego’s remuneration has been boosted by IAG’s shares “leading the FTSE 100 in 2024 for shareholder value creation”.
At the start of 2024, shares in IAG were trading at around 150p but they have since surged to a recent high of 366p.
Gallego’s latest pay packet is made up of £1m in fixed salary, £1.5m in annual incentive and £2.1m in long-term incentive.
In the prior year, the CEO’s long-term intensive totalled £680,000.
Gallego’s succeeded Willie Walsh as IAG’s chief executive in 2020 and did not participate in the Long-term incentive plan until 2023."