Baker misses out on performance payment
Boots chief executive Richard Baker missed out on a potential bonus of£644,000 last year, according to the company's annual report.
He failed to pick up the lucrative reward after the high street health and beauty giant issued a surprise profit warning in March and Baker failed to meet several personal targets.
Baker's total package was more than£1 million, a drop of 6 per cent on the previous year and was bolstered by a£200,000 payment in lieu of missing out on bonuses when he left Asda in 2003 and a£151,000 relocation fee after he moved his family from Yorkshire to Lincolnshire.
In future, Boots directors will have to invest between a quarter and a half of bonuses in Boots shares, with an additional performance-related company contribution rising to as much as double the director's stake if earnings per share beat inflation growth by 8 per cent.
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