Pay and proposal for increase remuneration package for CEO

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Below are part's from an article found in the Interactive Investor website,

How much is the boss paid?

Martin Seidenberg, who was appointed group chief executive in August 2023, has seen his salary for the current year increase by 2% to £714,000. The former head of the company’s GLS logistics division got total remuneration for the year of £1.5 million.

This included an annual bonus of £762,000, which was based on 76% of the maximum opportunity. Long-term incentives granted in 2021 lapsed in full. Former chief financial officer Mick Jeavons, who left the group at the end of May, received an annual bonus of £398,000 as part of his total remuneration for the year of £804,000.


What’s in the new remuneration policy?

This was last approved by shareholders at the 2023 AGM with 97.88% of votes in favour. The company is planning to increase the maximum normal long-term incentive award from 150% to 200% of salary. The current intention is that this would only apply to the group CEO as it looks to provide a more appropriate incentive to successfully lead the company “through the current challenges and deliver on the opportunities available to both GLS and Royal Mail.”


I wish we could get a 200% bonus