Investors in American parcel-delivery giant FedEx have approved a $54m pay plan for billionaire chief executive Fred Smith, says what Reuters. At the recent annual meeting, shareholders also nodded through non-binding proposals requiring more disclosures on company lobbying and shareholder voting on overly generous severance packages for senior management, known as "golden parachutes," that often payout three times salary and bonus.
The Bank of Ireland's chief financial officer, Myles O'Grady, has handed in his notice to join Irish food retailer and wholesaler Musgraves, says The Irish Times. The bank's chief executive, Francesca McDonagh, blamed pay restrictions in the domestic banking sector for his decision to leave. Executive pay is essentially capped at €500,000, with some exceptions. O'Grady earned €531,000 in total last year, while McDonagh's basic income came to €950,000.
Deloitte's 700 equity partners in Britain will receive an average payout of around £1m each after profits at the accounting firm rebounded to a record £868,000 per partner, says the Financial Times. That figure was also boosted by about £200,000 due to the sale of Deloitte UK's restructuring arm to private-equity-backed Teneo. Last year, the average share of Deloitte's profits came to £731,000, less than the £882,000 paid out per partner in 2019.
Kris Paterson is a writer for WhatJobs.com.
