A bonus scheme for Persimmon’s CEO and senior managers has been heavily criticised by Redrow chairman Steve Morgan, who claims that it is “very, very wrong”.
Persimmon houses, Newcastle. Photo: Shutterstock
A huge bonus for Persimmon chief executive Jeff Fairburn has been lambasted by the chairman of rival housebuilder Redrow.
Steve Morgan said that Persimmon's £110m bonus scheme, of which CEO Jeff Fairburn became eligible to scoop £45m last month, was “very, very wrong”.
Speaking to the Evening Standard, Redrow chairman Morgan said the payout and subsequent claims of greediness in the housebuilding industry “sticks in the craw”.
“I’m sick to the teeth of seeing the headlines of greedy housebuilders. It’s not true and they are doing the whole of the industry a complete disservice,” Morgan said. If he had been chairman
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