Mitchells & Butlers boss earns over a £1m

19 December 2007
Mitchells & Butlers boss earns over a £1m

Tim Clarke, chief executive of Mitchells & Butlers, Britain's largest pub operator by turnover, earned £1.02m in 2007.

This was despite the business taking an exceptional charge of £155m in its full year results to 29 November to do with hedging in regards to this summer's abandoned property joint-venture with Robert Tchenguiz.

Earlier this month, the operator fell out of the FTSE 100 after an eight month stay and it has also seen its share price fall 20% in the past three months due to the credit crunch.

However Clarke, along with finance director Karim Naffah and two other executives, have agreed to defer their performance-related bonuses until the hedging is closed or rolled out as part of revived plans to work with Tchenguiz through a Real Estate Investment Trust.

Despite the handsome pay cheque, Clarke lags behind Punch Taverns boss Giles Thorley in the earnings stakes.

Thorley pulled in a total salary package of £11,276,000 in 2006 and is the third highest paid director in Britain.

Rooney Anand, Greene King's chief executive, earned £891,000 last year.

Mark Angela earns £300,000 pay-off leaving Greene King, on top of his £442,000 >>

Mitchells & Butlers and Punch Taverns fall out of FTSE 100 >>

Mitchells & Butlers considers Tchenguiz property bid >>

Tchenguiz in talks with M&B to resurrect deal >>

By Christopher Walton

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking