Shares boost Marshalls’ bonuses

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PERFORMANCE related bonuses on the executive board of paving specialist Marshalls rose by more than 50 per cent last year following a rise in the firm’s share price.

The three directors - outgoing chief executive Graham Holden, finance director Ian Burrell and chief operating officer David Sarti - received performance related bonuses totalling £564,000 - up 54 per cent compared to £366,000 in 2012.

A company spokesman said the rise was due to the share price performing well over the period. It rose from 97p to £176p in 2013.

Mr Holden, who left the Huddersfield-based PLC last October, had requested that his 2013 salary be cut by 20 per cent. He received a £319,000 salary for the 10 months to October, compared to £412,000 the previous year, but he also received a bonus of £262,000, up from £170,000 in 2012. In addition, he received £10,000 worth of other benefits, excluding pensions.

Mr Burrell and Mr Sarti, whose salaries remained at £237,000, each received a bonus of £151,000 compared to £98,000 in 2012. Mr Burrell also received £13,000 worth of other benefits, excluding pensions. Mr Sarti received £16,000 in other benefits.

New chief executive Martyn Coffey received a £125,000 salary and a £79,000 bonus plus £16,000 of other benefits, excluding pensions, between September and December.