BSkyB CEO Jeremy Darroch Sees Total Annual Compensation Rise to $11.9 Million
LONDON - BSkyB CEO Jeremy Darroch saw his remuneration for the latest fiscal year ended in June rise around 7 percent to £2.98 million ($4.85 million), with his total compensation package rising to £7.3 million ($11.9 million) when including stock awards that vested in the latest year that were detailed separately.
The remuneration was up from £2.79 million ($4.53 million) in the fiscal year ended June 30, 2011. The latest figure includes a salary and fees of £935,000 ($1.52 million), up a little more than 5 percent, and a bonus of £1.87 million ($3.04 million), as well as a pension.
The British pay TV giant reported the amounts in its annual financial report for 2011-2012. It also mentioned stock options that Darroch received in the latest year amounting to 900,000 shares. Their value depends on whether some or all options vest in the future depending on whether performance targets are met and the stock price at the time.
Meanwhile, News Corp. deputy COO James Murdoch, the son of Rupert Murdoch who left his role as BSkyB chairman in April to move to the conglomerate's headquarters in New York, was reported as receiving £89,417 ($145,130), compared with £88,800. News Corp. owns a 39 percent stake in BSkyB.
BSkyB CFO Andrew Griffith earned £1.52 million ($1 million) in the latest fiscal year, up from £1.42 million in the previous year, while chairman Nicholas Ferguson made £230,657 ($374,792), up from £155,685.
BSkyB also said that it would continue to replace board members, a process it has focused on since News Corp. abandoned a bid to take full control of the company. It mentioned a couple of directors who would step down in the near future, but didn't immediately name replacements.