Retail Human Resources plc
HRG considers pay rule change after Duddy’s 72% rise
02 June 2010 11:44
It has been reported that Home Retail Group chairman Oliver Stocken is proposing to change the company's pay policies. The news comes after it emerged that chief executive Terry Duddy received a 72% salary increase despite falling profits at Argos. Mr Duddy's package went from £858,000 to £1.47m in 2009, after getting a £615,000 cash bonus. He did, however, volunteer to defer a further £615,000 in shares until next year.
According to HRG's annual report, the retail group is considering changes to pay policies so that bonuses are linked to earnings-per-share targets set over three years instead of annually for greater alignment between performance and reward.
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