BAE Systems gives chief executive £2m rise

BAE Systems gives chief executive £2m rise after another FTSE 100 firm tries to poach him

By Daily Mail City & Finance Reporter

Published: 21:51 BST, 2 April 2021 | Updated: 21:51 BST, 2 April 2021

BAE Systems has given its chief executive a £2m rise after another FTSE 100 firm tried to poach him. 

Boss Charles Woodburn’s pay has been upped by more than £100,000 to £1.1m, and he has been given a £2m ‘golden handcuffs’ package of shares. 

Essential: Because BAE works on sensitive projects it must have a British boss with high-level security clearance

In BAE’s annual report, it said Woodburn, who has run it since 2017, was approached, but did not name the suitor. 

BAE is the UK’s biggest defence contractor. Because it works on sensitive projects it must have a British boss with high-level security clearance. 

BAE found it tricky to hire Woodburn four years ago and his departure would inflict ‘potential damage’ on relationships with the Government and investors. 

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