Business Bytes: The 10 highest paid FTSE 100 bosses
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The pay packages of FTSE 100 chief executives continue to rise each year, often growing at a double digit rate, according to the High Pay Centre.
In fact, the average FTSE 100 boss had a pay package of £5.48m in 2015, up from £4.96m in 2014. But who are these people on such high salaries and how did they get there?
10. Antonio Horta-Osorio – 2015 total pay: £8.77m
At number 10 sits the group chief executive of Lloyds Banking Group. The Portuguese banker, who has an unexpectedly high profile after an alleged affair, graduated from the University of Portugal in 1987 before working at Santander and becoming the CEO of Lloyds in March 2011.
9. Michael Dobson – 2015 total pay: £8.91m
The British businessman is the former CEO of Schroders, an asset management company which has 38 offices worldwide. The 64-year-old worked at Morgan Grenfell Group and Deutsche Bank before moving to Schroders in 2001 where he stayed until April 2016.
8. Mike Wells – 2015 total pay: £10.0m
The American businessman is the CEO of British multinational life insurance and financial services company Prudential. Before taking up the role in June 2015, the 56-year-old graduated from San Diego State University and worked at a range of financial service firms in the US before joining the Prudential Group in 1995.
7. Erik Engstrom – 2015 total pay: £10.0m
Erik, the chief executive of RELX Group since 2009, is a Swedish businessman and was a partner at General Atlantic and a chief operating officer of Random House Inc beforehand. The 53-year-old studied at the Stockholm School of Economics, Royal Institute of Technology and Harvard Business School before starting work in 1984.
6. Bob Dudley – 2015 total pay: £13.3m
The American chief executive of BP graduated from the University of Illinois before working for Amaco and going on to work for BP in Russia from 2003-2008. In 2009, he returned to be the managing director of BP and became chief executive in 2010. Bob oversaw responsibilities for the cleaning work in the Gulf of Mexico after the infamous oil leakage.
5. Flemming Ornskov – 2015 total pay: £14.6m
The Danish businessman has been the CEO of Shire, a biopharmaceutical company, since April 2013 after working for Bayer. He received his MD from the University of Copenhagen and later became a Master of Public Health from Harvard University.
4. Jeremy Darroch – 2015 total pay: £16.9m
The 54-year-old British businessman, who is from Northumberland, became the chief executive of Sky in 2007. Beforehand, he studied Economics at the University of Hull and worked at Procter & Gamble for 12 years.
3. Rakesh Kapoor – 2015 total pay: £23.2m
Rakesh is an Indian businessman is the CEO of Reckitt Benckiser, a UK consumer goods company. He was educated in New Delhi before joining the company in 1987. He served in a number of roles, such as the general manager of the Indian southern region and regional marketing director for South Asia before moving to London and becoming CEO in 2011.
2. Tony Pidgeley – 2015 total pay: £23.3m
The British businessman, who is the founder and chairman of Berkeley Group Holdings, one of the UK’s largest housebuilding businesses, was born to a single mother and was then adopted before spending his early life living in a disused railway carriage. When he left home, he founded a haulage business before selling it to Crest Nicholson in 1968. He established Berkeley Group Holdings in 1976.
1. Sir Martin Sorrell – 2015 total pay: £70.4m
The chief executive of WPP, a multinational advertising and public relations company, Sir Martin Sorell, was born in London. The 71-year-old studied at Cambridge University and Harvard University before working for sports agent Mark McCormack and Saatchi & Saatchi. The businessman is widely respected in the media and advertising industry.