Andrew Wyllie sees his take-home pay rise 9% to £723,634 as overall board pay rises
Costain chief executive Andrew Wyllie took home a total of £723,634 last year – a 9% rise on last year’s figure of £663,679.
The figure comprised a basic salary of £367,500 and a bonus of £343,125, which the remuneration committee said it had awarded “notwithstanding the economic conditions experienced towards the end of the year.” Wyllie’s maximum bonus was 100% of his salary.
Amid recent rows over director’s pay, the committee was also keen to point out that the bonus had been awarded due to the fact targets had been hit. It said: “No discretion has been used and no financial targets have been amended during the year.”
Bosses at housebuilder Bellway recently came under fire for awarding bonuses despite missing performance targets.
Finance director Tony Bickerstaff took home £391,279, which was a 10% increase on last year’s figure of £355,830. His bonus was £166,320, which was under his maximum possible of £255,423.
Total board pay for 10 directors rose 7% from £1.38m to £1.48m.
Pre-tax profit at Costain rose 17% to £23.1m last year on the back of a 21% jump in turnover to £902.6m.