The pay of directors of companies on the London Stock Exchange’s FTSE-100 index, the top listed companies by market capitalization, rose by 39% last year to an average of £3.4m a year, according to a study which was released today.
In 2020 the highest salary was received by the general manager of the pharmaceutical company AstraZeneca, Pascal Soriot. In 2021 the highest paid is Sebastien de Montesis, another Frenchman, the director of the metallurgical company Endeavor, with an annual salary of 16.85 million pounds. Sorio dropped to second place, with 13.86 million.
Emma Walmsley, the chief executive of pharmaceutical company GSK, is the highest-paid woman, with a salary of £8.2m.
“The average salary of general managers is now 109 times higher than the average salary of a worker,” according to the think tank High Pay Center and the British trade union confederation TUC. In 2019, before the pandemic, the salary of managers was 107 times higher than that of the average worker.
In 2020, amid the pandemic, the average salary of directors of listed companies fell by 17%.
Female CEOs of leading listed companies by market capitalization increased from 7 in 2020 to 9 last year. On average they receive £3.01m a year, a salary lower than that of their male colleagues (£3.49m).
“Any hope that the pandemic would create a new spirit of solidarity (…) and reduce inequalities has long since dissipated,” the High Pay Center commented in its statement.
Source: AMPE
Source: Capital
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