Persimmon’s top three executives have scaled back their bonuses after wide-ranging criticism of the payouts which would have seen chief executive Jeff Fairburn receive more than £100m.
Fairburn, chief financial officer Mike Killoran and group managing director Dave Jenkinson, have made a “series of decisions intended to reduce the scale of payments and extend the holding period”.
The changes only apply to the second, and final, 60% tranche of the payout. The first 40% tranche vested on 31 December.
More soon.
