Diageo boss Ivan Menezes toasts pay rise as he pockets £8m

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 residing soars.

The Guinness and Johnnie Walker maker gave Ivan Menezes a £6.3million bonus on high of his £1.6million wage, pensions and different advantages. It meant his pay jumped by simply over £1.8million from a 12 months 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 giant in 2013, has now racked up a whopping £55.7m 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 constantly been the most effective paid bosses within the FTSE 100.

And for the 63-year-old, it can have been a 12 months 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 come back 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 stated. 

It began the 12 months nicely with gross sales within the first half climbing by a fifth. But as power and delivery prices soar, it has put up costs by round 5 per cent.

Advertisement