FTSE 100 CEO pay has increased by 16% from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, High Pay Centre research has found. It means that median CEO pay is now 118 times that of the median full-time worker, compared to 108 times in 2021 and 79 times in 2020. Pascal Soriot, CEO of AstraZeneca was the highest paid CEO, making £16.85 million, ahead of Charles Woodburn CEO of BAE Systems, who made £10.68 million. The ten highest paid FTSE 100 CEO’s also included fossil fuel executives, Bernard Looney of BP and Ben Van Beurden of Shell. The High Pay Centre’s analysis also found that 96% of FTSE 100 companies paid their CEO an annual bonus on average of £1.41 million. “At a time when so many households are struggling with living costs, it is surely not desirable or sensible for companies including some of Britain’s biggest employers to prioritise a half a million pound pay rise for executives who are already multi-millionaires,” it said. The High Pay Centre has called for reforms including requirements for companies to include a minimum of two elected workforce representatives on the remuneration committees that set pay and guaranteed trade union access to workplaces.
— Carol Vorderman (@carolvorders) August 22, 2023