Business Services Industry
British satellite broadcaster BSkyB reduces executive bonuses.
Knight Ridder/Tribune Business News, October, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
Oct. 7--Satellite giant BSkyB is hoping for an easier ride from shareholders at this year's annual meeting after scrapping guaranteed bonuses for top executives.
Some 39 percent of votes went against Sky's pay report after outgoing boss Tony Ball pocketed a payoff of up to UKpound 4 million, including a UKpound 500,000 guaranteed bonus. Pay committee chairman Jac Nasser has been on a City charm offensive ahead of the November 12 meeting to assure big shareholders there will be no repeat.
James Murdoch, Ball's successor, could pick up an annual bonus of up to UKpound 1.5 million -- but it is tied to hitting budget targets. Sky is expected to seek permission from...
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