Executive Remuneration
The Annual Report cites a number of factors in determining executive pay, including "attracting, retaining and motivating senior Executives of the appropriate calibre to further the success of the Group" and "ensuring that the interests of Executives are aligned with those of the Group and its members".
CEO Peter Marks was paid a basic salary of £900,000 in 2010, with a performance-related bonus of £449,000. The basic salaries of the thirteen executives adds up to £4,071,000, with their bonuses adding up to £2,121,000.
Read more about this topic: The Co-operative Group
Famous quotes containing the word executive:
“More than ten million women march to work every morning side by side with the men. Steadily the importance of women is gaining not only in the routine tasks of industry but in executive responsibility. I include also the woman who stays at home as the guardian of the welfare of the family. She is a partner in the job and wages. Women constitute a part of our industrial achievement.”
—Herbert Hoover (1874–1964)