Rolls-Royce boss Rishton to receive big pay rise for delivering record results
THE boss of Rolls-Royce is to receive a 29% rise in pay for delivering record results in his first full year in charge.
John Rishton, chief executive of the firm, which has its civil aerospace and nuclear divisions in Derby, will receive a pay and bonus package of £2.46 million for his performance in 2012.
He will receive £896,000 in salary, plus other benefits including a £743,000 cash bonus and £496,000 in deferred shares.
Mr Rishton took over from long-serving chief executive Sir John Rose in March, 2011.
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In its annual results released last month, Rolls-Royce achieved record profits of £1.4 billion in 2012. It also achieved sales of £12.2 billion and an order book of more than £60 billion.
The figures are revealed in the company’s annual report for 2012.
In the report, Dame Helen Alexander, chairman of Rolls-Royce’s remuneration committee, said: “This year’s remuneration again reflects a strong performance.
“Rolls-Royce has achieved record underlying revenues, underlying profits, and has a £60 billion order book which should ensure that the business will remain strong for many years to come.”