Former boss will enjoy payout at housebuilder that mirrors one at Berkeley Homes as Britain endures housing crisis that is pushing up prices and rents
Mike Farley, the former boss of Persimmon, is to collect nearly £20m in shares this December, part of a £240m payout lined up for managers at the housebuilder. At least 140 senior executives will share the award – the first tranche of a 10-year bonus scheme that could be worth nearly £620m by 2021, based on Persimmon’s closing share price on Friday. The managers will get the maximum award if they hit a target to return £1.9m to shareholders over the 10-year period beginning in 2011.
The payouts, which mirror a multimillion-pound bonus scheme at Berkeley Homes, come amid a housing crisis in Britain that politicians on all sides argue is pushing up houses prices and rents.
Source: The Guardian Circular Economy RSS