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Ladbrokes CEO Earns Multi-Million Pound Bonus

Ladbrokes CEO Earns Multi-Million Pound Bonus

The CEO of Ladbrokes has earned himself a huge bonus thanks to the good performance of the company on the London Stock Exchange.

Ladbrokes CEO Earns Multi-Million Pound Bonus

Thanks to sustained good performance of Ladbrokes’ shares, the company’s CEO has earned a £2.4 million bonus

Richard Glynn has earned a £2.4 million bonus on top of his normal salary and bonuses which are not connected to the company’s performance.

The bonus was awarded to Glynn after Ladbrokes’ shares climbed to £2 and stayed there for thirty days. A spokesperson for Ladbrokes said that Glynn “only gets the shares physically after they are calculated in July.”

Glynn’s basic salary is £580,000 a year and his annual bonus is just under £500,000.

He also earns £978,000 in performance shares; this means he is earning £2.2 million a year before the additional bonus.

If Ladbrokes’ shares reach £2.97 by 2015 then Glynn could be eligible for a £12 million bonus under the terms of Ladbrokes’ long term incentive plan.

Ladbrokes’ shares have continued to rise in value since the company signed a deal with Playtech to improve Ladbrokes’ digital presence and bring it up to scratch with the competition. Recently the shares reached a five year high of £2.45 suggesting that Glynn has a good chance of earning the £12 million bonus.

OCA News Editor

Keeping up with the latest trends in entertainment, Matt Holden brings celeb news to the front page of OCA. Matt loves numbers games and researches the highest paying lottery draws to play.