Hilton boss Michels's pay packet tops £1m
Hilton Group chief executive David Michels took home more than £1m in his pay packet last year despite profits across the group remaining fairly flat.
Michels saw his remuneration package increase by 25% to £1.031m in the 12 months to 31 December 2003, compared with £826,000 for the same period the year before. Included in that amount was a £90,000 bonus in recognition of Michels's extra workload following the death of Hilton International chief executive Anthony Harris last March.
Michels's basic salary for 2004 is £633,450, up by 3% on his basic wage of £615,000 last year.
Deputy chief executive and group finance director Brian Wallace enjoyed a 16% increase to £868,000 in his total remuneration last year, and a 2.8% increase in his basic wage to £470,419 this year.