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Young's directors enjoy hefty pay rises after successful year

By John Harrington , 20-Nov-2012
Last updated on 20-Nov-2012 at 10:10 GMT2012-11-20T10:10:08Z

Young's directors saw their pay packets rocket
Young's directors saw their pay packets rocket

Senior directors of Young’s, the London-based pub operator, saw their pay packets increase significantly in the year to 2 April 2012, a period described by the company as a “transformational” year.

Chief executive Steve Goodyear’s total emoluments (excluding pension costs) increased 37% to £526,585, including a £200,000 bonus, according to Young’s Annual Report. Nicholas Bryan, who was made non-executive chairman in 2011, was paid £66,363, an increase of £38,000.

Other senior directors to receive big increases include Patrick Dardis, retail director (+36%, £364,350, including £140,000 bonus); Peter Whitehead, finance director (+40%, £372,575, including £140,000 bonus); Torquill Sligo-Young, HR director (+25% to £216,581, including £75,000 bonus). All figures exclude pension costs.

Rupert Cleveley, managing director of Geronimo Inns, which was bought from Young’s in December 2010, was paid £216,732 and received a £200,000 bonus.

Revenue for Young’s grew 25.5% to £178.9m, while adjusted pre-tax profit increased 17.4% to £21.3m, in the year to 2 April, in which it fully integrated the Geronimo Inns business and exited from brewing.