British Land’s Chris Grigg remains the highest paid chief executive of the UK REITs despite taking a 5.9% pay cut this year.
The company’s financial report published this morning shows the former Barclays Capital boss took home £1.9m in pay and benefits.
The total pay packet was made up of an £800,000 salary and annual incentives and benefits of nearly £1.1m taking the total pay to £1,899,652 excluding pension.
The decrease came after a £120,000 dip in Grigg’s level of annual incentive, a figure determined by the performance of the company across a range of quantitative measures including capital returns, rental growth, operating costs, successful execution of acquisitions and disposals and progress of developments.
BL chairman Chris Gibson-Smith saw his basic pay climb by more than £20,000 to £351,750 with his total take-home packet up 6.5% to £396,123.
Executive directors Lucinda Bell, Charles Maudsley, Tim Roberts and Stephen Smith all received over £900,000.
Shareholders will attend the company’s annual general meeting on 13 July and vote on whether to approve the remuneration of the company directors.
jack.sidders@estatesgazette.com
