Admiral boss slams executive salaries
Admiral’s chief executive, Henry Engelhardt, has lashed out at the salaries paid to other insurance bosses.
The American millionaire, who takes home a £320,000-a-year salary, said he is “amazed” at the pay packets of other leaders in the insurance industry.
“What can a [chief executive] do to warrant the kind of packages put together compared to the other people working in the organisation?” Engelhardt asked, speaking on BBC Radio 4.
“I am a founder-owner of the company, so it’s not just my salary which keeps me going, there’s food on the table, every night, it’s true,” he said.
“But I do think it’s amazing when you see some of the pay packages put together.”
Engelhardt is believed to be the lowest paid chief executive of a FTSE 100 company.
Last month, Admiral posted a record first half pre-tax profit of £105.3 million.
Category: Admiral Insurance News, Employment News, Insurance News
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