Diageo boss Paul Walsh saw his salary more than double last year, following an 88% rise in the drinks giant’s shares over the last three years.
Walsh pocketed £11.2m for the the year to 30 June, compared to £4.4m a year earlier, according to the company’s remuneration report released yesterday.
The owner of Guinness and Johnnie Walker brands generated £8.8bn in profit and more than £30bn in sales between 1 July 2009 and 30 June 2012.
In a nod to shareholder activism over executive pay earlier this year, the company has introduced a clawback provision into its executive bonus schemes. This “enables the committee to reduce unvested awards in circumstances that result in performance being materially adversely impacted,” it said.
Last month, Diageo rewarded shareholders with an 8% increase in dividends, having narrowly beaten analyst expectations with a 6% rise in full-year sales to £10.8bn.