15th Apr 2014 05:45
LONDON (Alliance News) - Shareholders have criticised security company G4S PLC, after it announced a big pay rise for its new chief executive, despite a recent scandal involving the overcharging of UK taxpayers for tagging offenders, the Financial Times reports Tuesday.
Ashley Almanza, who took over as chief executive last June, was paid GBP1.46 million in 2013, a 23% rise from his predecessor Nick Buckles in 2012, even though the security group was hit by a series of scandals last year, the FT reports citing the company's annual report. Almanza received a GBP648,000 bonus for 2013 and in total, he took home GBP1,459,056 in base salary and bonuses.
The FT quoted one top 20 investor in G4S saying: ?G4S has a history of problems. This does seem like a reward for failure.?
http://www.ft.com/cms/s/0/0d08bfae-c3f6-11e3-b2c3-00144feabdc0.html#axzz2yvlML5n3
By Steve McGrath; [email protected]; @SteveMcGrath1
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