Marco Gobbetti, the Chief Executive of Burberry has seen his salary increase by 112 per cent, despite pay for chief executives in FTSE 100 companies shrinking 13 per cent to an average of £3.4 million in 2018.
Chief executives at 43 of the FTSE 100 companies saw their pay increase last year, the latest figures from the High Pay Centre and Chartered Institute of Personnel and Development (CIPD) revealed.
Gobbetti, who succeeded Christopher Bailey as Burberry chief executive in July 2017, saw his salary increase by 112 per cent year-on-year in 2018 to an eye-watering £7.4 million. Meanwhile, The chief executive at Marks & Spencer, Steve Rowe and Next boss Lord Wolfson both took pay cuts last year – down by 37 per cent and 32 per cent respectively.
The average pay for chief executives still remains 144 times higher than the average UK worker, which is currently at £24,000.
