Persimmon CEO defends bumper bonus scheme
Persimmon chief executive offers defence of bonus scheme that caused resignation of both chairman and remuneration committee chairman.
Persimmon houses, Newcastle. Photo: Shutterstock
The chief executive of housebuilder Persimmon has defended a widely criticised remuneration scheme that will give him a bonus of more than £100m.
Persimmon's chairman Nicholas Wrigley, and remuneration committee chairman Jonathan Davie, resigned in December over the pay scheme.
CEO Jeff Fairburn responded yesterday after the company reported a rise in sales, up 9% to £3.42bn, that could help it beat profit expectations for 2017.
Quoted in The Times, Fairburn said his bonus was an "important driver" of the company's performance, though he would not confirm what his intentions were for the money he is due to receive.
The Financial
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