Landsec chief executive Mark Allan has taken home a £2.9m pay package in his first year leading the business.
Notably, £1.7m of the total amount related to relocation and buyout awards made on appointment. An annual bonus of £188,000 was deferred into shares.
Landsec said that, excluding buyout awards, total remuneration for the chief executive post has dropped by 34.5%. Allan’s predecessor Rob Noel took home £1.57m last year, ahead of his departure.
Chief financial officer Martin Greenslade, who formally stepped down from his role last month, earned £764,000 in the year ending March 2021. This compares with just over £1m in the previous year. This was mainly down a reduction in bonus, which decreased to £129,000 in shares, from £358,000.
Greenslade’s replacement Vanessa Simms will be paid a base salary of £490,000 as well a pension allowance of 10.5% of salary. She will also be able to earn a maximum bonus of 150% of salary and long-term incentive plan awards of 300% of salary.
Chief operating officer Colette O’Shea’s pay shrank to £641,000, compared with £845,000 in the previous year. Her bonus was reduced to £117,000 in shares, from £331,000 last year.
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