THE boss of Irn-Bru maker AG Barr saw his total pay drop 22 per cent last year as the company opted not to pay annual bonuses after a below-target performance.
In the 12 months to the end of January 2016, Roger White received total remuneration of £837,000 – down from £1.08 million the previous year, when he received a £320,000 bonus.
David Ritchie, chair of AG Barr’s remuneration committee, said: “Despite a number of year-on-year improvements, the threshold profit target was not met, and therefore no annual bonus awards have been paid to [Mr White or his four fellow executive directors].”
Full year revenues fell just under 1 per cent to £257m, while pre-tax profits fell 1.4 per cent.
Mr White’s salary increased 3 per cent to £434,000, while benefits including car allowance, fuel benefit and share options rose 37 per cent to £41,000. Contributions to Mr White’s pension rose 96 per cent to £212,000.
On the government’s proposed sugar tax due in April 2018, Mr White said: “Should a levy be introduced, we expect at least two thirds of our portfolio will be lower or no sugar, and would therefore be levy free at that time.”
The company lists adverse publicity in relation to the soft drinks industry as one of its principal risks and uncertainties.
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