Intertek Group, the testing and inspection specialist, is to turn into the newest in a string of FTSE-100 firms at hand their chief executives a sizeable pay enhance.
Sky Information has learnt that the corporate, which has a market worth of near £8bn, will disclose in its annual report on Friday that Andre Lacroix has been awarded a multimillion pound improve in his most remuneration bundle.
Shareholders consulted on the proposals stated the rise would largely encompass a considerable hike in Mr Lacroix’s variable pay by way of his long-term incentive alternative.
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Mr Lacroix has run the corporate for a decade, with revenues rising by 62% throughout that interval and working revenue up by greater than 80%.
The rise in his most pay bundle will make Mr Lacroix the newest in a collection of blue-chip firm bosses to see their earnings boosted amid intense debate in regards to the attractiveness of the London inventory market.
Dame Emma Walmsley, the boss of medication big GSK, will see her most payout improve to £21.6m below a brand new pay coverage.
Earlier this yr, Sky Information revealed that the chief executives of Barclays and HSBC Holdings would see their packages improve following talks with main shareholders.
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Different firms capitalising on a extra permissive temper amongst institutional buyers embody British American Tobacco and Compass Group, the contract caterer.
Final yr, Dame Julia Hoggett, chief government of the London Inventory Alternate, referred to as for UK CEO pay to be introduced extra intently into line with that of US-based friends in an effort to assist avert a movement of firms shifting their listings to New York.
Intertek declined to remark.
