Persimmon Homes -- CEO £100m Bonus...

[crankedup]

sidicks said:

crankedup said:

I’ve said for years that major investors will approve almost anything so long as the Company is producing good profits, dividends and a strong shares price.

That aside, announcement made Fairborn has pledged a ‘substantial sum’ of his ridiculous bonus to a charitable trust.

Major investors are incentivised to approve things that they deem in the best interests of those they represent I.e. which will support profits / dividends / share price growth.

Of course.

[crankedup]

Coolbanana said:

Well played Jeff Fairburn!

He now walks away with a huge pay out and will most likely land another good role as soon as he wants it.

If the Shareholders don't cover all the bases, it isn't anyone's fault but theirs. Fairburn was given an agreed Contract that simply had to be honoured. End of.

All the bleeding hearts who think he was overpaid are just green with envy that they cannot achieve anything close to the same.

Agreed, although the shareholders approved the bonus scheme prior to the Governments introduction of its ‘Help to buy scheme’ . It’s a lesson that has been learned, Government interference into a free market, poor oversight by shareholders, poor judgements by the chairperson and financial director in not dictating a financial cap in the scheme.

[menousername]

I wondered if the timing was significant

If they are expecting a downturn, and to hit revenues, and possibly the share price, the bonus issue would be even more contentious

Clean slate / fall guy for the next 12 months while Brexit plays out, and of course Bexit can be blamed

[Burwood]

menousername said:

I wondered if the timing was significant

If they are expecting a downturn, and to hit revenues, and possibly the share price, the bonus issue would be even more contentious

Clean slate / fall guy for the next 12 months while Brexit plays out, and of course Bexit can be blamed

I don't think so. Persimmon is a very well run and efficient business. Their value is in their Land Bank. Plus they are becoming vertically integrated, e.g., building their own brick plant. It's a cash machine

[blueg33]

I run a housebuilder.

I suggested to my shareholders that I they can pay me less than others by making my bonus £50m.

They didn't seem all that enthusiastic