Maybe it wasn’t so difficult asking Gavin Patterson to relinquish his post as chief executive of BT after all. Ground down by five years in the role, with the last two fraught with setbacks, it must have come as a bit of a relief. Mr Patterson’s pay package was potentially worth £8m a year, but BT’s woefully named 'Incentive' Share Plan (ISP) had failed to trigger and, taking into account the BT shares that he was honour-bound to own and its diving share price, by my calculations those last two years cost him about £3.5m – just to work there.
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No Free Lunch
Imperfect execution
Declining executive pay at M&S tells its own story
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