UK confectionery and soft drinks giant Cadbury Schweppes handed over £8.08m (US$11.56m) to just five senior directors last year, according to the company’s accounts.
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COO John Brock picked up the largest proportion of the cash. He received £2.32m, including a huge relocation bonus of £605,000 for moving from America to London.
Meanwhile, the firm’s CEO John Sunderland was paid £1.9m for his work during 2001. CFO David Kappler and Bob Stack, chief human resources officer, both picked up £1.14m
The company, which was criticised last year for introducing US-style “golden parachutes” to executives, has stressed that despite the size of the salaries, four of the five directors actually took a cut in pay “because we have very stretching targets”.
Chief strategy officer Todd Stitzer alone saw his remuneration increase to £1.58m, because it was his first full year in the position.
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