Lucian Grainge, chairman and chief executive of Universal Music Group, is in line for one of the largest corporate payouts in history, says The Guardian. Under the terms of the company’s flotation in Amsterdam last week, Grainge will receive a “transaction bonus” of $90m. An additional bonus of $55m was triggered due to the market capitalization going over $30bn. Grainge, who earned $50m last year, will also receive up to $40m relating to the sale of a 10% stake in Universal to Chinese tech group Tencent and Bill Ackman’s Pershing Square hedge fund.
THE DAILY TELEGRAPH SAYS THAT the BBC’s director-general Tim Davie has been given a pay rise of £75,000 after just one year in the role. When he took over from Lord Hall of Birkenhead in September 2020, Davie was given the same £450,000 earned remuneration as his predecessor. Now, however, Davie’s pay has risen by 15% to £525,000. Even that is less than the £600,000 Davie had earned as head of BBC Studios, the Beeb’s commercial arm.
Fund-management firm Lindsell Train has paid its co-owners, Nick Train and Michael Lindsell, a combined £35.7m in dividends after recording a post-tax profit of £62.3m for the year to the end of January, up from £59m the previous year, says FT Adviser. Train and Lindsell own 74% of the business, with the rest owned by the Lindsell Train investment trust and other staff. Its total wage bill for its 21 employees came to £34m.
Kris Paterson is a writer for WhatJobs.com.