Peter Dilnot earned £45 million in 2024, making him the highest-paid executive in the FTSE 100. He surpassed AstraZeneca's Pascal Soriot, who saw his pay decrease to £14.7 million. Dilnot's compensation included a £43 million bonus from a long-term shareholder scheme triggered by performance targets. Melrose now has the largest pay gap in the FTSE 100, with its executives earning significantly more than average employees. The company's market value has risen to £7.5 billion since instituting the share scheme and acquiring GKN.
Peter Dilnot earned £45 million in the last year, surpassing AstraZeneca's Pascal Soriot and becoming the highest-paid FTSE 100 executive according to Business Matters' Fat Cat Files.
Dilnot's compensation includes a £43 million bonus due to Melrose achieving performance targets, alongside his salary and other benefits, marking one of the largest payouts in UK corporate history.
The pay gap at Melrose has now reached an unprecedented level, with Dilnot and his predecessor being compensated 1,112 times more than the average worker's salary of £53,000.
Melrose's market value has grown to £7.5 billion since the implementation of their long-term share scheme in 2018, significantly influenced by the acquisition of GKN and restructuring.
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