Some of Britain’s richest corporate bosses being lavished with extraordinary perks: Coca-Cola boss handed £250k ‘cost of living’ boost
Some of Britain’s richest corporate bosses are being lavished with extraordinary perks, including allowances for their partners, cash for booze, designer clothes, commuting costs and second homes, The Mail on Sunday can reveal.
Zoran Bogdanovic, the chief executive of FTSE100 soft drinks bottling giant Coca-Cola HBC, received benefits of £736,000 last year, including an allowance for his partner, a £90,000 housing subsidy and a ‘cost of living’ payment of nearly £250,000.
The Croatian businessman also received £252,000 to cover his taxes. These handouts came on top of a basic salary of £691,000.
Perks of the job: Coca-Cola boss Zoran Bogdanovic received benefits of £736,000 last year
Former Burberry chief executive Marco Gobbetti was paid £178,000 in benefits, including a £60,000 cash allowance to cover clothing and other benefits.
Other bosses enjoyed subsidised housing, free travel and even private school tuition fees.
Drinks giant Diageo’s chief executive, Ivan Menezes, receives a package of allowances totalling £133,000. This includes £86,000 for financial advice and preparing his tax return, plus a payment that allows him to entertain with his firm’s beverages, which include Guinness, Johnnie Walker and Tanqueray.
Tesco’s chief executive Ken Murphy was paid more than £26,000 to commute from his family home in Ireland to the supermarket’s headquarters in Welwyn Garden City, Hertfordshire.
National Grid boss John Pettigrew was awarded £85,500 to cover the cost of a car and driver, having claimed half a million pounds to relocate from Leamington Spa to London in 2019.
While British Airways customers have faced a summer of disrupted travel, parent company International Airlines Group shelled out £250,000 to Luis Gallego to cover the ‘transitory costs’ of keeping homes in London and Madrid. The payments, which will stop in December, are awarded on top of the Spanish executive’s base salary of £738,000.
British American Tobacco’s Jack Bowles was awarded £69,000 for the maintenance of the security measures at his home.
Luke Hildyard, of the High Pay Centre, said: ‘Normal people have to pay for their own relocation or transport costs when they start a new job.’