BT boss takes home £5.6m as pay and bonus package more than doubles
Summary
The chief executive of BT, Allison Kirkby, received a pay and bonus package of £5.6 million for the year ending March 2024, more than double her previous year's total. This is the largest pay award for a BT boss in over ten years, reflecting the company's improved share price and progress in its network upgrade projects.Key Facts
- Allison Kirkby became BT’s chief executive in February 2024.
- Her total pay, including bonuses and shares, was £5.58 million for the year ending March 2024.
- This amount more than doubled her £2.48 million package from her first year as CEO.
- The package is larger than the £3.7 million paid to her predecessor Philip Jansen.
- The highest BT CEO pay before was £9.4 million to Ian Livingston in 2012-13.
- Kirkby received a £1 million cash bonus and £3.25 million in share awards to be paid over three years.
- BT’s share price rose nearly 80% since Kirkby started, boosting the value of her bonuses.
- The company announced a £15 billion investment to upgrade to full fibre broadband and 5G.
- BT plans to cut 55,000 jobs by 2030 as part of efficiency improvements and the end of its building phase.
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