Gransnet forums


To think a £54,000,000 bonus is an obscene amount to be paid

(21 Posts)
TerriBull Wed 06-May-20 08:27:48

Yes just that! Nearly choked on my coffee to read in the business section of the Sunday Times that is what the Chief Executive of Ocado is getting. Anyone else staggered at such pay outs, particularly in the current climate shock

Urmstongran Wed 06-May-20 08:30:20

£54 million? Bluddy hell. It’s obscene.

MawB Wed 06-May-20 08:30:30

Not if it was paid to me ???

aggie Wed 06-May-20 08:37:17

I wouldn’t turn it down either

PamelaJ1 Wed 06-May-20 08:52:28

Is he paying tax?

Lucca Wed 06-May-20 09:08:27

And a couple of others got £15.8 million.
Yes it’s obscene at the best of times, but now ....beggars belief. It really is time all this kind of ridiculous salary stopped.

Jaycee5 Wed 06-May-20 09:17:34

It is obscene but more so considering Ocado is not doing well. On the 11th February it reported a £214,000,000 loss following a warehouse fire, losing Waitrose as a client and an increased spend on technology and logistics.
Sounds like failing up yet again.

Davidhs Wed 06-May-20 09:39:15

Ridiculous if that’s correct

I would love to see the contract that allowed a massive bonus on a not especially profitable business.

Lucca Wed 06-May-20 09:57:26

At a quick glance on google this is reported by the guardian the daily mail the telegraph and OP says Sunday times so I’m inclined to think there’s something in it !

Pantglas2 Wed 06-May-20 09:58:54

The answer is in your hands folks - don’t use em.....

Lucca Wed 06-May-20 10:09:30

I don’t, but that will make no difference. We can’t all stop using any product or service where the fat cats get these ridiculous salaries...... trains, banks, fuel etc etc

jaylucy Wed 06-May-20 10:19:43

One thing that sickens me is "Executive Officers" in public office that have a salary of anything up to a half million pound salary (and sometimes more) . When they leave of their own free will, will usually get the equivalent of 6 months salary (why? when they are usually moving onto another equally well paid job when us normal human beings only get paid up to our last day of service)
What really gets me though is when they have done a rubbish job , they still get paid sometimes up to several years salary, just to get rid of them when the rest of us just get shown the door!

Callistemon Wed 06-May-20 10:38:33

This payout will have to be agreed by shareholders.

Let's hope that the shareholders revolted.
They have done in many other cases over recent years.

May7 Wed 06-May-20 10:44:57

So disgraceful anybody receiving this amount of money IMO. Vote with your feet. Ocado service has been woeful during this pandemic. Yes I choked on my coffee this morning too

TerriBull Wed 06-May-20 11:12:35

I don't think the shareholders were or are happy about it Callistemon.

A while back the Chief Executive of Persimmon builders got a staggering £74 million pay out, I believe almost half the shareholders voted against it but unfortunately they narrowly lost that vote. Appalling! at the time, and possibly still are ongoing complaints galore about their new builds which have a multitude of problems according to those who have bought one of their properties.

Callistemon Wed 06-May-20 11:29:53

I think the vote was yesterday.
Do we know the result yet?

I remember when shareholders of Barclays voted against the useless Bob Diamond's payout but lost.
The small, conscientious shareholders have no chance against those larger shareholders who have their own prospects in mind.

EllanVannin Wed 06-May-20 11:29:54

You wouldn't mind so much if he also offered a few million to help the poor and needy at these times----but no sign of that coming forthwith I don't suppose.

Callistemon Wed 06-May-20 13:13:58

I suppose in a way he will if he pays a whacking amount of tax on it.
However, it seems unbelievable at a time when his firm is not doing very well at all!

NanaandGrampy Wed 06-May-20 14:03:17

No one who hasn’t discovered the cure to cancer deserves a salary like that.

It’s obscene and as this pandemic has taught us it’s not the CEOs that are what we need it’s the nurses and doctors and care workers and delivery drivers who won’t ever see 54 million in their lifetime .

Jaycee5 Wed 06-May-20 14:12:52

Shareholders are often pension funds, insurance companies etc. and they like salaries set high so it is a comparable for their own.
It is very hard for smaller shareholders to have any impact.

Callistemon Wed 06-May-20 15:36:54

Royal Mail shareholders managed it with 70% against the remuneration packages of the fat cats.

You'd think the others would have got the message by now, but no, greed reigns.