August 13, 2022

Diageo boss Ivan Menezes toasts pay rise as he pockets £8m after drinks big posts bumper gross sales

Diageo has paid its boss £7.9million as the price of dwelling soars.

The Guinness and Johnnie Walker maker gave Ivan Menezes a £6.3million bonus on prime of his £1.6million wage, pensions and different advantages. It meant his pay jumped by simply over £1.8million from a yr earlier.

Menezes, who took over the drinks big in 2013, has racked up a whopping £55.7million in his tenure.

Diageo boss Ivan Menezes, who took over the drinks big in 2013, has now racked up a whopping £55.7m in his tenure

He has persistently been the most effective paid bosses within the FTSE 100.

And for the 63-year-old, it’ll have been a yr to get pleasure from. His £133,000 total advantages package deal included a ‘product allowance’ – a tab for administrators to drink the corporate’s merchandise. 

The allowance was tallied alongside Menezes’s life and long run incapacity cowl to return to £4,500.

Diageo final month toasted bumper gross sales as drinkers opted for extra premium spirits. Drinkers celebrated the easing of lockdowns by forking out on high-end spirits, the drinks maker mentioned. 

It began the yr nicely with gross sales within the first half climbing by a fifth. However as vitality and transport prices soar, it has put up costs by round 5 per cent.

See also  Australians might be $670 a month worse off by Christmas as rates of interest, petrol, energy costs rise