Persimmon chief’s £75m bonus ‘almost unfathomable’ – Raab

Housebuilder Persimmon’s award of a £75m bonus to its chief executive, Jeff Fairburn, was “almost unfathomable”, the housing minister, Dominic Raab, has told MPs. Persimmon faced fierce criticism earlier this year after it emerged that a rise in profits, which has been attributed to the taxpayer-backed help-to-buy scheme, would trigger more than £2oom in bonuses for three executives. The company trimmed the payouts by £51m amid widespread outrage, with Fairburn accepting a cut from £100m to £75m and promising to give a “substantial” portion to an unnamed charity. Click here for the full Guardian article