INDIA born chief executive of Diageo, Ivan Menezes hit a jackpot last year as his total pay package rose by £5.66 million, or 167 per cent, to £9.06m.
The chief of the London-based business recorded the largest percentage remuneration hike among the UK’s highest-paid Financial Times Stock Exchange (FTSE) 100 business chiefs.
Menezes, 60, boss of the British multinational beverage group since 2013, hit the jackpot after various bonus schemes paid £7.48m.
Diageo, led by Menezes, has become the ninth most valuable business in the FTSE 100 index, with a market value of £82 billion.
Menezes, who was born in the southern Indian city of Pune, is credited for boosting Diageo’s business significantly. Since his appointment six years ago, the company’s shares are up from £20 to about £35.
The company has yielded good results for investors, including a 23 per cent rise in total shareholder return last year.
It reported net sales worth £12.9bn, an increase of 5.8 per cent, with organic growth partially offset by acquisitions and disposals in the year ended in June.
It also recorded an operating profit of £4bn, a rise of 9.5 per cent, driven by organic growth.
In July, the company board approved plans for a further return of capital of up to £4.5bn to shareholders for the financial years 2020 to 2022.
