Slark’s remuneration at Grafton Group steady despite full bonus payment

CEO Gavin Slark received total pay of €1.9m for 2017 including maximum bonus of 120% of salary

Grafton Group chief executive Gavin Slark saw his total remuneration for 2017 remain steady at £1.7 million (€1.9m). Photograph: Nick Bradshaw

Grafton Group chief executive Gavin Slark saw his total remuneration for 2017 remain steady at £1.7 million (€1.9m). Photograph: Nick Bradshaw

 

Despite a 70 per cent increase in his bonus payment for 2017, Grafton Group chief executive Gavin Slark saw his total remuneration for the year remain steady at £1.7 million (€1.9m).

According to figures in the construction group’s annual report for 2017 published on Tuesday, Mr Slark received a salary of £580,000 for the year, up from £560,000 in 2016. Pension contributions were steady at £ 128,000, while his other benefits , such as health insurance, company car and a rent allowance, rose from £53,000 to £73,000.

However, while Mr Slark’s bonus soared to £696,000, from £411,000 in 2016, and at 120 per cent of salary is the maximum allowable under group policy, his rewards under the group’s long-term incentive plan, which is based on the Woodies’ DIY owner’s share price, slumped by 60 per cent to £213,000.

Elswhere, the report shows that chief financial officer David Arnold received total remuneration of £1.04 million, steady on 2016. Again, while his bonus jumped, up to £397,000, again at the maximum of the 100 per cent of salary allowable, his benefits under the share investment scheme fell.

Michael Roney, who assumed the role of chairman from long-serving chairman Michael Chadwick in January last year, received a salary of £230,000.

Non-executive directors, including Frank van Zanten and Paul Hampden Smith, were paid €70,000 in constant currency.